INCOME TAX : It is a pre-requisite condition that an assessee, who approaches Settlement Commission under section 245C, must disclose true and full income. Benefit of settlement is an enabling provision permitting assessee to resolve disputes in a peaceful manner. Thus, special provision is to be dealt with in accordance with procedures contemplated under section 245D.INCOME TAX : It is a pre-requisite condition that an assessee, who approaches Settlement Commission under section 245C, must disclose true and full income. Benefit of settlement is an enabling provision permitting assessee to resolve disputes in a peaceful manner. Thus, special provision is to be dealt with in accordance with procedures contemplated under section 245D.www.taxmann.com Latest Case LawsRead More
