INCOME TAX : Where Settlement Commission passed a settlement order under section 245D(4); by making an addition of certain amount to assessee’s income; secondly, by adopting a rate of profit at 8 per cent instead of 3.69 per cent as offered by assessee and lastly, increasing turnover of assessee, since abovesaid three issues were not covered in settlement application and Commission had dealt with these issues merely because it was part of report filed in terms of rule 9 of Settlement CommissionINCOME TAX : Where Settlement Commission passed a settlement order under section 245D(4); by making an addition of certain amount to assessee’s income; secondly, by adopting a rate of profit at 8 per cent instead of 3.69 per cent as offered by assessee and lastly, increasing turnover of assessee, since abovesaid three issues were not covered in settlement application and Commission had dealt with these issues merely because it was part of report filed in terms of rule 9 of Settlement Commissionwww.taxmann.com Latest Case LawsRead More
