Application to Settlement Commission before 01.02.2021 not hit by provision of section 245C(5)

Pradeep Kumar Naredi Vs Union of India & Ors. (Calcutta High Court) Calcutta High Court held that provisions of sub-section (5) section 245C of Income Tax Act is effective only from 1st February 2021, hence, application before Settlement Commission prior to that date cannot be held as invalid. Accordingly, application before Settlement Commission restored. Facts- The appellants have prayed for a declaration that the amendment introduced by the Finance Act, 2021 by which the Income Tax Settlement Commission was abolished and an interim Board was constituted to deal with the pending applicat...