Settlement Commission should examine application for settlement by lifting corporate veil

HIGH COURT OF KARNATAKA ING Vysya Bank Ltd. versus Commissioner of Income-tax, Bangalore-I W.A. Nos. 2458 & 3004-3008 of 2010 (T-IT) July 6, 2012 JUDGMENT Aravind Kumar, J. This Intra Court Appeal under Section 4 of the Karnataka High Court Act, 1961 is by the first respondent -assessee preferred against order passed in W.P. No. 12239/2008 whereunder the learned Single Judge has quashed the order passed by the Income Tax Settlement Commission (Additional Bench), Chennai dated 04.02.2008 in so far as it relates to granting immunity from penalty and prosecution and remanding...