Settlement application u/s 245C - Apportioning the undisclosed ...

Settlement Application Denied Due to Incomplete Disclosure of Income and Expenditures u/s 245C.

February 27, 2024

Case Laws Income Tax HC

Settlement application u/s 245C - Apportioning the undisclosed income in the hands of the petitioner and the Company - The High court examines the petitioner's disclosure and the basis for apportionment of income. It notes discrepancies and lack of clarity in the petitioner's submissions regarding the apportionment of unaccounted sales, expenditures, and income between the petitioner and the company. - The High court concurs with the Commission's finding that the petitioner did not disclose true and correct facts, violating the requirements of Section 245C(1).

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Settlement application u/s 245C - Apportioning the undisclosed ...

Settlement Application Denied Due to Incomplete Disclosure of Income and Expenditures u/s 245C.

February 27, 2024

Case Laws Income Tax HC

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