Sponsored
    Follow Us:

Income Tax Settlement Commission

Latest Articles


Streamlining Tax Dispute Resolution: Rise of Internal Board of Settlement in India

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...

March 18, 2023 2388 Views 0 comment Print

Last Opportunity to submit an application to Settlement Commission till 30.09.2021!

Income Tax : Dont miss your last chance to submit an application to Settlement Commission by 30.09.2021! Learn more about this opportunity and ...

September 10, 2021 2295 Views 1 comment Print

Discontinuance of Income-tax Settlement Commission

Income Tax : Budget 2021- It is proposed to discontinue Income-tax Settlement Commission (ITSC) and to constitute Interim Board of settlement f...

February 4, 2021 7710 Views 0 comment Print

Income Tax Search & Seizure Assessments & Settlement Commission

Income Tax : Finance Bill 2021- Paradigm Shift In The Provisions Relating To Income Tax Search And Seizure Assessments And Income Tax Settlemen...

February 2, 2021 4398 Views 0 comment Print

Detection of any undisclosed income subsequent to final order of ITSC

Income Tax : Income Tax Search and Seizure & Income Tax Settlement Commission (ITSC)- Detection of any undisclosed income subsequent to the...

January 23, 2021 2892 Views 0 comment Print


Latest News


Vacancy Circular for filing up vacant posts in various Benches of Income Tax Settlement Commission-reg.

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...

November 29, 2011 474 Views 0 comment Print

Budget 2011- Pranab Mukherjee likely to bring Major change in direct tax laws

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 ...

January 2, 2011 351 Views 0 comment Print

Full and true disclosure of undisclosed income and their manner of acquisitions is mandatory for settlement

Income Tax : The Income Tax Settlement Commission, even after commencing the proceedings, is empowered to examine the authenticity of such full...

August 24, 2010 1057 Views 0 comment Print

Taxes Outstanding Against Multi-National Company

Income Tax : No separate database regarding the outstanding demand against Multi-National Company (MNCs) as a separate category or class is mai...

August 2, 2010 696 Views 0 comment Print


Latest Judiciary


HC Sets Aside IT Settlement Commission’s Order, Directs Fresh Consideration on Abated Applications

Income Tax : Rajasthan High Court reverses Settlement Commission's dismissal for missing records, stating assessee not involved in reconstructi...

June 17, 2025 24 Views 0 comment Print

Income Tax Settlement Cases (Feb-Mar 2021) Deemed Pending: Madras HC

Income Tax : Madras HC upholds deemed pendency of settlement applications before March 31, 2021, under Clause [iv] of S.245A, affirming Single ...

April 2, 2025 105 Views 0 comment Print

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

Income Tax : Delhi HC reviews immunity granted by the IT Settlement Commission to Standard Farms and others, focusing on the satisfaction of co...

January 30, 2025 342 Views 0 comment Print

HC should not scrutinize an order of ITSC as an appellate court: Bombay HC

Income Tax : The Bombay High Court upholds the discretion of the Income Tax Settlement Commission, stressing that it should not be reviewed as ...

April 18, 2024 1431 Views 0 comment Print

ITSC Cannot Grant Immunity Without Full & True Disclosure: Delhi HC

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...

April 15, 2024 903 Views 0 comment Print


Latest Notifications


CBDT notifies authority for accepting Income Tax settlement application

Income Tax : In order to avoid genuine hardship to assessees authorizes the Commissioner of Income-tax, posted as Secretary to the Settlement C...

September 28, 2021 4305 Views 0 comment Print

Revised selection criteria for appointment of Chairman, Vice-Chairman and members of SetCom

Income Tax : 4, Retirement from parent service on appointment as Chairman or Vice-Chairman or Member.— (1) Where, a Member, on the date of...

March 27, 2015 4919 Views 0 comment Print

All the info /material furnished by assessee before Settlement Commission to be sent to CIT to enable him issue his report

Income Tax : Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commissio...

January 15, 2014 571 Views 0 comment Print

Income-tax Settlement Commission (Procedure) Amendment Rules, 2010

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...

October 6, 2010 1640 Views 0 comment Print


Suo Motu Rectification of order passed u/s 245D(4) on debatable issue by Settlement Commission not valid

March 15, 2018 2832 Views 0 comment Print

This Petition under Article 226 of the Constitution of India, challenges an order dated 2nd December, 2016 passed by the Settlement Commission (Commission) under Section 245 D(6B) of the Income Tax Act, 1961 (the Act).

Entry level requirements for filing Settlement Application

January 22, 2018 5841 Views 0 comment Print

Pre- Conditions for filing Settlement Application- Pendency of the ‘Case’ – 245A(b)- Assessments must be pending or deemed to be pending (in case where reopening is permissible but notice has not been issued) before the Assessing Officer at the time of filing settlement application

Settlement Application cannot be admitted without considering objections raised by CIT

September 12, 2015 723 Views 0 comment Print

It was held by Hon’ble High Court of Bombay and Goa in the case of CIT V/s M/s Sai Prasad Properties Limited that an application under section 245D(2C) of the Act has to be disposed of after considering the objections raised by CIT

Interest demand u/s 220(2) till admission of application by Settlement Commission is valid

August 11, 2015 2970 Views 0 comment Print

Position that interest can be charged pursuant to proceedings in normal course up to the date of decision u/s 245D(1) of the Income Tax Act to proceed with the application appears to be prevailing.

Revised selection criteria for appointment of Chairman, Vice-Chairman and members of SetCom

March 27, 2015 4919 Views 0 comment Print

4, Retirement from parent service on appointment as Chairman or Vice-Chairman or Member.— (1) Where, a Member, on the date of his appointment to the Commission, was in service under the Central Government, he shall seek retirement from such service before joining the Commission, and shalt be deemed to have so retired on the date of his joining the Commission. (2) On retirement as specified under sub-rule (1), the Member

Budget 2015- Amendment related to Settlement Commission

March 3, 2015 2999 Views 0 comment Print

The existing provision contained in clause (b) of section 245A of the Act defines a case for the purpose of Chapter XIX-A as any proceeding for assessment under this Act, of any person in respect of any assessment year or assessment years which may be pending before an Assessing Officer on the date on which an application under sub-section (1) of section 245C is made. The Explanation to the said clause provides for deemed commencement of proceedings under different situations.

All the info /material furnished by assessee before Settlement Commission to be sent to CIT to enable him issue his report

January 15, 2014 571 Views 0 comment Print

Notification No. 5/2014-Income Tax All the material and other information produced by the assessee before the Settlement Commission shall be sent to the Commissioner to enable him to furnish the report under sub-section (3) of section 245D.

Income Tax Settlement Commission cannot admit application made u/s 245C in absence of satisfaction being recorded from the report of Commissioner

July 8, 2013 1153 Views 0 comment Print

The error in the order of the Commission in the present case lies in permitting the application to proceed without that satisfaction being recorded by the Commission, which is a fundamental aspect which goes to the root of its jurisdiction to entertain an application under Section 245C.

Procedure for Filing Income Tax Settlement Application- Admission, Validation and settlement of the Application

January 14, 2012 2427 Views 0 comment Print

Procedure for Filing Settlement Application Settlement application is to be filed only in the prescribed Form No.34-B notified under the Income Tax Rules, 1962. The form has to be signed by the applicant himself. The Form has to be properly filled up. An incomplete Form is liable to be rejected. In order to be admitted by the Commission, full amount of tax is to be paid alongwith interest payable till the date of admission The application can be made personally or by post. The applicant or his authorized representative can make application in person. Application can also be sent by registered post addressed to the Secretary. However in case of a postal application, the date of receipt in the Commission shall be treated as date of application.

Income Tax Settlement Commission – Frequently Asked Questions

January 14, 2012 2947 Views 0 comment Print

1. What is meant by Settlement in respect of tax disputes? How is it different from the appellate process? Settlement of disputes relating to Income Tax and Wealth Tax is based on the objective of dispute resolution Alternate. It is in the nature of mediation or arbitration. The Settlement orders passed by the Income Tax Settlement Commission are final and conclusive in nature.

Sponsored
Sponsored
Search Post by Date
June 2025
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
30