INCOME-TAX : The prime consideration and pre-condition for entertaining a settlement application is true and full disclosure of income and subsequent adding, deletion or insertion would dis-entitle the Settlement Commission from entertaining an application. In such an event, the genuinity of the assessee became questionable and matter is to be sent back for assessment before jurisdictional AO . The parties, who are approaching the Settlement Commission by way of application,INCOME-TAX : The prime consideration and pre-condition for entertaining a settlement application is true and full disclosure of income and subsequent adding, deletion or insertion would dis-entitle the Settlement Commission from entertaining an application. In such an event, the genuinity of the assessee became questionable and matter is to be sent back for assessment before jurisdictional AO . The parties, who are approaching the Settlement Commission by way of application,www.taxmann.com Latest Case LawsRead More
