Income Tax : CBDT hasd vide Notification No. 129/2021-Income Tax dated 01.11.2021 and under section 245D (11) & 245D (12) of the Income-tax...
Income Tax : Budget 2021- It is proposed to discontinue Income-tax Settlement Commission (ITSC) and to constitute Interim Board of settlement f...
Income Tax : Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlemen...
Income Tax : Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the...
Income Tax : Find out how the Income Tax Settlement Commission (ITSC) can help settle tax liabilities and avoid lengthy litigation....
Income Tax : The Income Tax Settlement Commission, Ministry of Finance , has settled over 15000 tax disputes involving over 1.35 lakhs tax proc...
Income Tax : The Ministry of Revenue has intimated that some posts of Members of the Settlement Commission are vacant and due to be filled shor...
Finance : Loan defaulters will now find it difficult to rid themselves of all their liabilities through the one-time settlement scheme. Publ...
Income Tax : Delve into the crucial judgment of Orchid Infrastructure Developers Pvt Ltd Vs PCIT, where the Delhi High Court ruled against reop...
Income Tax : Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true i...
Income Tax : ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by...
Income Tax : Supreme Court upheld an order by Settlement Commission granting immunity from penalty and prosecution, emphasizing importance of ...
Income Tax : Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the S...
Excise Duty : Customs, Central Excise & Service Tax Settlement Commission – A Filip to Alternative Dispute Resolution Mechanism for ex...
Income Tax : 4, Retirement from parent service on appointment as Chairman or Vice-Chairman or Member.— (1) Where, a Member, on the date of...
Income Tax : Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commissio...
Delve into the crucial judgment of Orchid Infrastructure Developers Pvt Ltd Vs PCIT, where the Delhi High Court ruled against reopening assessments under Section 147/148 after a final settlement order under Section 245D(4).
Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true income disclosure.
ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by the firm and accepted by the Settlement Commission.
Supreme Court upheld an order by Settlement Commission granting immunity from penalty and prosecution, emphasizing importance of full disclosure and cooperation.
Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the Settlement Commission for re-consideration and re-determination of undisclosed income. It is unjust to set aside the order of Settlement Commission without re-determination of undisclosed income.
Section 127H of the Act of 1962 confers power on the Settlement Commission to grant immunity from prosecution and penalty. Section 127H(1) as it read prior to 1 June 2007 empowered the Settlement Commission, upon satisfaction of the conditions laid down in the provisions, to grant immunity either wholly or in part from the imposition of any penalty, fine and interest.
Customs, Central Excise & Service Tax Settlement Commission – A Filip to Alternative Dispute Resolution Mechanism for expeditious settlement of Show Cause Notices issued under Customs Act/Central Excise Act/Service Tax. Customs, Central Excise & Service Tax Settlement Commission – A Filip to Alternative Dispute Resolution Mechanism for expeditious settlement of Show Cause Notices issued under […]
CBDT hasd vide Notification No. 129/2021-Income Tax dated 01.11.2021 and under section 245D (11) & 245D (12) of the Income-tax Act, 1961 issued ‘e-Settlement Scheme, 2021′ to settle pending income-tax settlement applications transferred to a settlement commission. ♦ Applicability & Scope of e-Settlement Scheme, 2021 It shall come into force on the date of its […]
When the Commission itself categorically made a finding that it was not possible to settle the matter and documents and evidences were to be examined by the Adjudicating Authority, then there was no much scope for the High Court to interfere with the orders passed and by sending the matter back to the Adjudicating Authority, assessee would also get an opportunity to produce all the documents and evidences to establish his case. Thus, sssessee had not established any acceptable reasons for the purpose of interfering with the order passed by the Settlement Commission.
Budget 2021- It is proposed to discontinue Income-tax Settlement Commission (ITSC) and to constitute Interim Board of settlement for pending cases. The various amendments proposed are as under: ITSC shall cease to operate on or after 1st February, 2021 No application under section 245C of the Act for settlement of cases shall be made on […]
