Home Highlights August 2018 Year 2018 This

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1. Rejection of request for waiver of interest while granting immunity from penalty and prosecution - order of Settlement Commission - the liability of the Petitioner to...

2. Income Tax Settlement Commission order - Waiver of interest - the Settlement Commission cannot re-open its concluded proceedings by invoking Section 154 of the Act so as...

3. Interest Liability u/s 234B - settlement of case u/s 245D(4) - Levy of interest on tax on additional income offered without providing the set off of the prepaid taxes...

4. The conferment, on the Settlement Commission, of the “powers of a Customs officer”, or the “powers of the Central Excise Officer” would not, ipso facto, result in the...

5. Power of settlement commission - Settlement Commission is within its powers to impose penalty on each of the Directors in addition to the imposition of penalty upon the...

6. Validity of order passed by Settlement Commission - Unless the twin conditions mentioned therein are fulfilled, the Settlement Commission cannot move further in the...

7. Application for settlement of cases - High Court has observed that, the assessment order for A.Ys. 2013-14 to 2019-20 could not have been passed as the application filed...

8. Reduction or waiver of interest charged under section 234A/234B/234C - Scope and Power

9. Maintainability of Application for Settlement application - co-applicant - Since he is not the main applicant in the present case, he will not be debarred from...

10. Interest u/s 234B – Tax liability due to retrospective amendment - failure to pay advance tax - no interest liability under section 234B - HC

11. Settlement of case - before submitting reply to the show cause notice, approached the Settlement Commission - The dismissal of the application filed before the...

12. Validity of order of settlement commission – the Settlement Commission had no power of rectification at the relevant time – the order is required to be set aside - HC

13. Power of AO to pass an assessment order where application was filed before settlement commission – Income Tax Settlement Commission, rejected the application - decided...

14. Settlement commission power u/s 245D - Commission could have either rejected the application or allowed it to be proceeded further - When a duty is casts on the...

15. Validity of Settlement Commission orders - The case involved petitions seeking directives for the issuance of formal orders under section 245D (4) of the Income Tax Act,...