There must be Validity of application filed before Settlement Commission

Brief about the Case

The matter involves three assessment years, namely,2010-11,2011-12and 2012-13.The Assessee firm was engaged in the business of trading in ferrous and nonferrous metals. During a scrutiny assessment related to A.Y. 2010-11 it was noticed that the second Respondent-Assessee had purchased materials/goods from various parties. In order to verify the genuineness of purchase transactions from one such party, namely, M/s. Nutan Metals, information under section133(6) of the IT Act were called for

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