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| The Tax Publishers2020 TaxPub(DT) 2269 (Mad-HC) : (2020) 273 TAXMAN 0264 INCOME TAX ACT, 1961
Section 245D(2A)
Where arithmetic of transactions disclosed before Settlement Commission did not add up and clearly showed that there were large-scale suppression resorted not only before AO but also before the Settlement Commission, considering that there were several discrepancies in manner in which case was allowed to be settled by Settlement Commission, matter was remanded back to Settlement Commission to pass fresh order.
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Settlement Commission - Payment of tax on admitted liability in terms of section 245D(2A) - Shortfall in payment of tax - Remand of matter
Revenue challenged the order passed by Settlement Commission in application by assessee on ground that assessee failed to pay admitted liability in terms of section 245D(2A) of the Income Tax Act, 1961. According to revenue, there was a shortfall in payment of tax on the admitted liability. Held: Arithmetic of transactions disclosed before Settlement Commission did not add up and clearly showed that there were large-scale suppression resorted not only before AO but also before the Settlement Commission. There were several discrepancies in manner in which case was allowed to be settled by Settlement Commission. Calculations were accepted without any deliberations did not inspire confidence. There were several disputed questions of fact which were glossed over by Settlement Commission while settling case. Order passed by Settlement Commission was quashed and case was remanded back to Settlement Commission to pass a fresh order after considering objections of revenue filed under rule 9 of the Settlement Commission (Procedure) Rules, 1997.
REFERRED : UOI & Ors. v. Ind-Swift Laboratories Ltd. (2011) 4 SCC 635 : 2011 TaxPub(EX) 347 (SC) Shriyans Prasad Jain v. ITO & Ors. 1993 Supp. 4 SCC 727 : 1993 TaxPub(DT) 1510 (SC) Jyotendrasinhji v. SI Tripathi & Ors. 1993 (3) SCC 38 : 1993 TaxPub(DT) 1331 (SC) RB Shreeram Durga Prasad and Fatechand Nursing Das v. Settlement Commission (Income Tax and Wealth Tax) & Anr. 1989 (1) SCC 628 : 1989 TaxPub(DT) 0874 (SC) M/s. Akshar Developers v. ITSC [R/Special Civil Application No. 13572 of 2018] : 2019 TaxPub(DT) 1734 (Guj-HC) CIT v. M/s. RNS Infrastructure Ltd. (2016) 67 taxmann.com 77 (Karnataka) : 2016 TaxPub(DT) 2896 (Karn-HC) CIT v. Gopal Gupta (2014) 46 taxmann.com 312 (Delhi) : 2014 TaxPub(DT) 2475 (Del-HC) N. Krishnan v. Settlement Commission & Ors. (1989) 47 Taxman 294 (Kar) : 1989 TaxPub(DT) 1047 (Karn-HC)
FAVOUR : Matter remanded.
A.Y. :
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