ITSC cannot Grant immunity under Section 245H(1) without recording its satisfaction

Commissioner of Income Tax Central II Vs  Standard Farms Pvt. Ltd. & Anr. (Delhi High Court) Delhi High Court recently reviewed the decision in the case of Commissioner of Income Tax (Central II) Vs Standard Farms Pvt. Ltd. & Anr. The review petitions were filed by the petitioners seeking a reconsideration of the court’s earlier order, which set aside an order by the Income Tax Settlement Commission (ITSC) that had granted immunity from prosecution and penalty. The petitioners contended that the ITSC had correctly granted immunity after considering the satisfaction required under Se...