Income Tax : The article discusses the establishment of the Internal Board of Settlement (IBS) under the Income Tax Act of 1961, its role in re...
Income Tax : Dont miss your last chance to submit an application to Settlement Commission by 30.09.2021! Learn more about this opportunity and ...
Income Tax : Budget 2021- It is proposed to discontinue Income-tax Settlement Commission (ITSC) and to constitute Interim Board of settlement f...
Income Tax : Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlemen...
Income Tax : Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the...
Income Tax : The CBDT has indicated vide letter dated 25.11.2011 that there are several vacant/ likely to be vacant posts in the Benches of the...
Income Tax : Saddled with huge tax arrears of Rs 2,50,000 crore -- more than half of the total tax collection projected for 2010-11 -- finance ...
Income Tax : The Income Tax Settlement Commission, even after commencing the proceedings, is empowered to examine the authenticity of such full...
Income Tax : No separate database regarding the outstanding demand against Multi-National Company (MNCs) as a separate category or class is mai...
Income Tax : Delhi HC reviews immunity granted by the IT Settlement Commission to Standard Farms and others, focusing on the satisfaction of co...
Income Tax : The Bombay High Court upholds the discretion of the Income Tax Settlement Commission, stressing that it should not be reviewed as ...
Income Tax : Once it is seen that the disclosure was not full and truthful, the ITSC loses its jurisdiction to entertain such an application as...
Income Tax : Delve into the crucial judgment of Orchid Infrastructure Developers Pvt Ltd Vs PCIT, where the Delhi High Court ruled against reop...
Income Tax : Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true i...
Income Tax : In order to avoid genuine hardship to assessees authorizes the Commissioner of Income-tax, posted as Secretary to the Settlement C...
Income Tax : 4, Retirement from parent service on appointment as Chairman or Vice-Chairman or Member.— (1) Where, a Member, on the date of...
Income Tax : Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commissio...
Income Tax : Notification No. G.S.R. 820(E)-Income Tax In exercise of the powers conferred by sub-section (7) of section 245F of the Income-tax...
Delhi HC reviews immunity granted by the IT Settlement Commission to Standard Farms and others, focusing on the satisfaction of conditions for immunity under Section 245H.
The Bombay High Court upholds the discretion of the Income Tax Settlement Commission, stressing that it should not be reviewed as an appellate court. Full text judgment analysis.
Once it is seen that the disclosure was not full and truthful, the ITSC loses its jurisdiction to entertain such an application as well as to provide any immunity to the applicant from prosecution and penalties.
Delve into the crucial judgment of Orchid Infrastructure Developers Pvt Ltd Vs PCIT, where the Delhi High Court ruled against reopening assessments under Section 147/148 after a final settlement order under Section 245D(4).
Kerala High Court dismisses a writ petition for failing to meet Section 245C(1) of the Income Tax Act, emphasizing full and true income disclosure.
Delhi High Court closes writ petition as the CIT’s claim is rejected during Corporate Insolvency Resolution Process (CIRP) before NCLT. Get insights into the judgment.
ITAT Ahmedabad held that addition towards unexplained expenditure unsustainable as impugned amount has already been surrendered by the firm and accepted by the Settlement Commission.
ITAT Ahmedabad held that once the Income Tax Settlement Commission has passed final order u/s. 245D of the Income Tax Act, AO has no jurisdiction to reopen the same u/s. 148 of the Income Tax Act.
Supreme Court upheld an order by Settlement Commission granting immunity from penalty and prosecution, emphasizing importance of full disclosure and cooperation.
Supreme Court held that while setting aside the order of Settlement Commission, High Court could have remanded the matter to the Settlement Commission for re-consideration and re-determination of undisclosed income. It is unjust to set aside the order of Settlement Commission without re-determination of undisclosed income.
