Settlement Commission

Service Tax – Is it a good option to settle case through Settlement Commission

Service Tax - The concept of Settlement Commission is fairly new in service tax. It is only in the year 2012, that the benefit of settlement through settlement commission was extended to the service tax assesses, which was earlier available under Central Excise and Customs Act. ...

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HC has power to decide correct position of law on admitted facts before Settlement Commission

Service Tax - A holding company is not liable for provident dues of a Subsidiary Company. Workmen of subsidiary Company are not workmen of holding Company. It was held that holding company is not liable for wages of its subsidiary company which was under winding up....

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Changes in Settlement Commission provision in Central Excise & Custom

Service Tax - There are many bulk sections have been removed in Central Excise and Custom from this Budget, 2015. Reasons behind these bulk amendments are that these sections have become redundant. These sections have already get expired and now government think about these expired section and delete these. These sections are similar in Central Excise ...

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Budget 2015- Amendment related to Settlement Commission

Service Tax - 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-sectio...

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Restoration of Charm of Settlement Commission

Service Tax - The budget for the financial year 2013-14 took a hard hand by drastically amending the penal provisions relating to the offences under the Central Excise and Service Tax law. Though these provisions are harsh in the way making certain offences as cognizable and non-bailable, but, these amendments seems to restore the charm of Settlement C...

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Over 15000 Tax Disputes Involving Over 1.35 Lakhs Tax Proceedings Settled by Income Tax Settlement Commission

Service Tax - The Income Tax Settlement Commission, Ministry of Finance , has settled over 15000 tax disputes involving over 1.35 lakhs tax proceedings in its life time since 1976. In 2010-11, it passed 400 orders, in which it settled income amounting to 595 Crores, which was 187% over the returned income of 206 Crores in these cases. This was stated b...

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Vacancy in Posts of Member, Settlement Commission (Income Tax / Wealth Tax)

Service Tax - The Ministry of Revenue has intimated that some posts of Members of the Settlement Commission are vacant and due to be filled shortly. As per the Settlement Commission (Income Tax/ Wealth Tax) (Recruitment and Conditions of Service of Chairman, Vice-Chairman and Members) Amendment Rules, 2007 applicable to the said post, only serving Chie...

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One-time settlement scheme will not absolve Loan defaulters from criminal prosecution

Service Tax - Loan defaulters will now find it difficult to rid themselves of all their liabilities through the one-time settlement scheme. Public sector lenders plan to insert a clause that will bar them from withdrawing criminal cases against private persons, irrespective of a settlement....

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Settlement Application cannot be admitted without considering objections raised by CIT

Commissioner of Income Tax Vs M/s Sai Prasad Properties Limited (Bombay High Court at Goa) - 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...

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

CIT Vs Smt. Leonie M. Almeida (Bombay High Court) - 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. ...

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Once application for admission u/s 245C is filed , it must be dealt with in accordance with law

Marc Bathing Luxuries Ltd. Vs Income Tax Settlement Commissioner & Anr. (Delhi High Court) - Once an application for admission u/s 245C is filed before the Hon’ble Settlement Commission, then the said application must be dealt with in accordance with law, i.e., refer to the contentions of the petitioners, the contention of the Revenue and then an objective, considered and a reasoned decis...

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

CIT Vs Income Tax Settlement Commission (ITSC) (Bombay High Court) - 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....

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S. 245D Settlement Commission can decide application on the basis of a summary inquiry

Vishnubhai Mafatlal Patel Vs Assistant Commissioner of Income-tax - When the Settlement Commission examines an application in terms of statutory powers and finds that such application does not satisfy the legal requirements, as contained in section 245C(1) of the Act, in our view, unless such decision of the Commission is contrary to the statutory provisions contain...

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

Notification - F. No. Q. 22013/1/2014-Ad.1C (AAR) - (27/03/2015) - 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 deem...

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

Notification No. 5/2014-Income Tax - (15/01/2014) - 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....

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Recent Posts in "Settlement Commission"

Service Tax – Is it a good option to settle case through Settlement Commission

The concept of Settlement Commission is fairly new in service tax. It is only in the year 2012, that the benefit of settlement through settlement commission was extended to the service tax assesses, which was earlier available under Central Excise and Customs Act. ...

Read More
Posted Under: Income Tax |

Settlement Application cannot be admitted without considering objections raised by CIT

Commissioner of Income Tax Vs M/s Sai Prasad Properties Limited (Bombay High Court at Goa)

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...

Read More

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

CIT Vs Smt. Leonie M. Almeida (Bombay High Court)

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. ...

Read More

HC has power to decide correct position of law on admitted facts before Settlement Commission

A holding company is not liable for provident dues of a Subsidiary Company. Workmen of subsidiary Company are not workmen of holding Company. It was held that holding company is not liable for wages of its subsidiary company which was under winding up....

Read More
Posted Under: Income Tax |

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

Notification - F. No. Q. 22013/1/2014-Ad.1C (AAR) (27/03/2015)

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...

Read More

Changes in Settlement Commission provision in Central Excise & Custom

There are many bulk sections have been removed in Central Excise and Custom from this Budget, 2015. Reasons behind these bulk amendments are that these sections have become redundant. These sections have already get expired and now government think about these expired section and delete these. These sections are similar in Central Excise ...

Read More
Posted Under: Income Tax |

Budget 2015- Amendment related to Settlement Commission

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-sectio...

Read More
Posted Under: Income Tax |

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

Notification No. 5/2014-Income Tax (15/01/2014)

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....

Read More

Once application for admission u/s 245C is filed , it must be dealt with in accordance with law

Marc Bathing Luxuries Ltd. Vs Income Tax Settlement Commissioner & Anr. (Delhi High Court)

Once an application for admission u/s 245C is filed before the Hon’ble Settlement Commission, then the said application must be dealt with in accordance with law, i.e., refer to the contentions of the petitioners, the contention of the Revenue and then an objective, considered and a reasoned decision has to be taken. ...

Read More

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

CIT Vs Income Tax Settlement Commission (ITSC) (Bombay High Court)

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....

Read More
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