Voluntary Addition During Hearing is not Revising of Settlement Application: Gujarat HC

PCIT Vs Navinchandra Dalpatlal Mehta & Anr. (Gujarat High Court) Gujarat High Court held that voluntary addition offered during hearing of the application u/s. 245D(4) cannot be equated with revision of application of disclosure made u/s. 245C(1) and hence no interference is called in the impugned order passed by the Settlement Commission. Facts- The search and seizure action u/s. 132 of the Income Tax Act, 1961 was carried out at the premises of the assessee – respondent No.1 on 17.08.2016. During the course of search, various incriminating documents were found and seized pertaining to ...