Search Procedure and Settlement Commission

Present detailing key p=provisions of Search Action and Settlement Commisssion

1. SEARCH & SEIZURE
&
SETTLEMENT COMMISSION
CA VIPIN K. GUJARATHI
DIRECT TAX REFRESHER COURSE, 2017

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SEARCH & SEIZURE

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AMENDMENTS BY FINANCE ACT 2017
New Explanation to Section 132(1) & 132A
(1) inserted by the Finance Act 2017 w. e.
f. 01/04/1962 & 01/10/1975 respectively.
Explanation : For the removal of doubts, it
is hereby declared that the reason to
believe as recorded by the income-tax
authority under this sub-section, shall not
be disclosed to any person or any authority
or the Appellate Tribunal.

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AMENDMENTS BY FINANCE ACT 2017
Sec. 132 does not confer any arbitrary
authority on the Revenue officers—
Power must be exercised strictly in
accordance with the law and only for the
purpose for which the law authorizes its
exercise.
Seth Brothers 74 ITR 836 (SC)
Vindhya Metal Corporation 224 ITR 614
(SC)
UOI Vs Ajit Jain 280 ITR 280 (SC)

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AMENDMENTS BY FINANCE ACT 2017
Warrant of authorization can be issued only if
the conditions specified in section 132(1) (a) or
(b) or (c) are complied with
The assessee has right to file Writ Petition under
Article 226 of the Constitution of India against
the validity of the search action. However, for
filing Writ Petition the assessee must know the
reasons for search action.
By inserting Explanation the assessee as well as
any authority including Tribunal is denied the
opportunity of knowing the reason. Under such
circumstance filing of Writ petition is not possible

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AMENDMENTS BY FINANCE ACT 2017
Insertion of section 132(9B) –Power of
provisional attachment of the property
during the course of search or within 60
days from execution of the last of the
authorizations
Power of Provisional Attachment are
vested with the AO u/s 281B. By this
amendment powers can be exercised by
authorized officers during the search or
within 60 days of end of search action

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AMENDMENTS BY FINANCE ACT 2017
Insertion of section 132(9D) Power to make
reference to Valuation Officer referred to in
section 142A during or within 60 days from
end of the search action who will submit
report with in 60 days
Object of amendment is to enable correct
estimation & quantification of undisclosed
income held in the form of investment or
property. Assessee may be confronted
during post search enquiries.

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AMENDMENTS BY FINANCE ACT 2017
Amendment to section 153A & Section
153C of the I T Act
Section 153A (1) (a) & (b) and Section
153C before amendment provided that
where the search is initiated after 31st day
of May 2003 the AO shall issue notice for
the six assessment years immediately
preceding assessment year relevant to the
previous years in which the search is
conducted and assess or reassess income
of such six assessment years

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AMENDMENTS BY FINANCE ACT 2017
Now the section 153(1)(a) and section
153A(1)(b) has been amended to include
“Relevant Assessment Years” in addition to
six assessment years. Relevant assessment
Year/s mean beyond six years and not
beyond 10 years. Therefore, now AO in
respect of search conducted after
01/04/2017 can issue notice u/s 153A(a)
for 10 assessment years subject to certain
conditions.

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AMENDMENTS BY FINANCE ACT 2017
Explanation 1 to section 153A defines the
expression “Relevant Assessment Year”
shall mean an assessment year preceding
the assessment year relevant to the
previous year in which the search is
conducted or requisition is made which falls
beyond six years but not later than ten
assessment years from the end of
assessment year relevant to the previous
year in which the search is conducted

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AMENDMENTS BY FINANCE ACT 2017
Fourth proviso to section 153A provides
that AO shall not issue notice for the
relevant assessment years unless the
income, in the form of asset, which has
escaped assessment amounts to or is likely
to amount to 50 lakh rupee or more in the
relevant A. Y. or in aggregate in the
relevant Assessment Years
This amendment is applicable for search
initiated on or after 1
st
April 2017

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AMENDMENTS BY FINANCE ACT 2017
Explanation 2 to section 153A has been
inserted according to which the “asset”
referred to in fourth proviso shall include
immovable property being land or building
or both, shares and securities, loans and
advances and deposits in bank account.
Any other asset can not be considered for
computing limit of Rs. 50 Lakhs
Consequential amendments have been
made in section 153C.

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AMENDMENTS BY FINANCE ACT 2017
Memorandum explaining amendments
states that section 153A & 153C are
amended as the existing provisions of
clause (c) of the section 197 of the
Finance Act 2016 treating the income
or asset found as the income of the
year in which notice u/s 142, 143 or
153A or 153C is deleted w. e. f. 1
st

June 2016

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AMENDMENTS BY FINANCE ACT 2016
Amendment to sub-clause (c) to
section 271AAB w. e. f 01.04.2017
Section 271AAB(1)(c) provided that
penalty in case of undisclosed income
of specified previous years was
leviable at the rate of 30% of the
undisclosed income if the case does
not fall under sub-clause (a) or (b) of
section 271AAB(1) of the Act.

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AMENDMENTS BY FINANCE ACT 2016
Sub clause (c) of sub section (1) of
section 271AAB has been amended to
provide that the penalty shall be
levied at the rate of 60% of the
undisclosed income of the specified
previous years if it is not covered by
the provisions of clause (a) or (b)
The amendment is w. e. f.
01/04/2017

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TAXATION LAW (SECOND AMENDMENT)
ACT 2016
Insertion of Sub-section (1A) of
section 271AAB w. e. f. 15/12/2016.
Sub clause (a) to section 271AAB (1A)
provides that penalty u/s 271AAB
(1A) in respect of search initiated
after 15
th
December 2016 shall be
payable @ 30% of undisclosed income
of specified previous years if the
assessee, fulfills the following three
conditions:

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TAXATION LAW (SECOND AMENDMENT)
ACT 2016
Three Conditions of S 271AAB (1A):
A) admits UDI in the course of search in the
statement u/s 132(4),
B) substantiates the manner of deriving UDI &
pays tax together with interest and
C) Furnishes the return before specified date
Sub clause (b) provides that if the case is
not covered by sub clause (a) the penalty
shall be leviable 60% of undisclosed
income of specified previous year

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TAXATION LAW (SECOND AMENDMENT)
ACT 2016
Section 273B provides that no
penalty shall be levied if the assessee
proves that for the failure there was a
reasonable cause for said failure.
However, section 273B has not been
amended to include section 271AAB
and therefore, it will be very difficult
to argue the case of the ground of
reasonable cause.

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AMENDMENTS BY FINANCE ACT 2015
Amendment to section 153C of the I T Act
w. e. f. 1
st
June 2015
Prior to amendment to section 153C the AO
of the searched person was empowered to
initiate proceedings u/s 153C in case of any
person other than searched person only
when the money bullion jewellery or other
valuable article or books of accounts or
documents belongs or belong to person
other than searched person.

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AMENDMENTS BY FINANCE ACT 2015
The Finance Act 2015 has amended
section 153C w. e. f. 1
st
June 2015
which enables the AO of the searched
person to initiate proceedings under
scetion153C even if the books of
accounts or documents do not belong
to other person. The requirement is
the documents “relate to” or “pertains
to” such other person

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AMENDMENTS BY FINANCE ACT 2015
any money, bullion, jewellery or other
valuable article or thing, seized or
requisitioned belongs to or
any books of accounts or documents,
seized or requisitioned pertains or
pertain to any information contained
therein, relates to
The amendment has widened the
scope of section 153C

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EFFECT OF AMENDMENT TO SECTION 153C
Before amendment to S. 153C the
requirement that the documents found
during search should “belong” to such other
person was a condition precedent and a
jurisdictional issue. The non-satisfaction of
the condition renders the entire
proceedings null and void.
Arpit Land Developers Pvt Ltd ITA No. 83 of
2014 (Bom)
Vijaybhai Chandrani 333 ITR 436 (Guj)

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Relates to, Refers to or Pertains to
Pepsi India Holdings Pvt. Ltd (Delhi) –
Rebuttal of presumption u/s 132(4A) (i) &
292C (1)(i) documents belong to person
from whose custody is found
has explained the terms “relate to” or
“refers to”
A Registered Sale Deed belongs to the
purchaser although relates to refers to
Vendor
Photo copies of the documents found in
search action on A may relate to B but may
not belong to B

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SECTION 153C ISSUES
Finding of photo copies with searched
person does not mean that they belong to
the other person holding originals
Recording of satisfaction u/s 153C- Even if
the AO of searched person & of the other
person is the same, the proper satisfaction
has to be recorded before assuming
jurisdiction over other person
CIT Vs M/s Mechmen (MP)
Tanvir Collection Pvt Ltd Vs ACIT (Delhi)

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Time of recording of satisfaction by
AO of searched person
Time or at which stage AO of the searched
person should record the satisfaction as to
the documents belonging to other person
was subject of controversy. Now the
controversy is put to rest by the Supreme
Court in the case of CIT Vs Calcutta
Knitwears 362 ITR 673 held as follows:
For the purpose of S. 158BD of the Act
satisfaction note is sine quo non and must
be prepared by AO before he transmit the
record to other AO

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Time of recording of satisfaction by
AO of searched person
Satisfaction note could be prepared either (a) at
the time or along with initiation of proceedings
against the searched person u/s 158BC or (b)
along with the assessment proceedings u/s
158BC or (c) immediately after assessment
proceedings are completed.
CBDT Circular 24/2015 Dt. 31
st
December
2015 accepted that the provisions of
section 153C are substantially similar/pari
materia to section 158BD
Cit Vs Apna Organics 374 ITR 55 (Bombay)

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Addition u/s 153A vis-à-vis absence of
incriminating documents
Whether addition can be made under
section 153A even if no document or
material or evidence is found in the course
of search action?
Once search takes place u/s 132 the AO
has to necessarily issue notices u/s
153A(a) for six preceding Assessment Year
relevant to AY of search and assess or
reassess income of each of six assessment
years

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Addition u/s 153A vis-à-vis absence of
incriminating documents
The issue arises whether AO, even if no
incriminating material is found, still require
to assess or reassess income of all
assessment years?
Kabul Chawla 380 ITR 573 (Delhi) has held
that no addition can be made in respect of
an unabated assessment which has become
final if no incriminating material is found
during the search. The law has been
explained as follows:

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Addition u/s 153A vis-à-vis absence of
incriminating documents
Once search takes place u/s 132 the AO will
have to mandatorily issue notice to the
assessee to file returns for six years
Assessment or reassessment pending on
the date of initiation of search shall abate
and AO will have to pass fresh orders
One assessment order for disclosed as well
as undisclosed income for each of six
assessment years

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Addition u/s 153A vis-à-vis absence of
incriminating documents ?
Although the section 153A does not
say that assessment should be strictly
made on the basis of evidence found
as a result of search or post search
enquiries. However, the assessment
can not be arbitrarily made.
In absence of incriminating material
the completed assessment can be
reiterated & abated assessment can
be made afresh

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Addition u/s 153A vis-à-vis absence of
incriminating documents
The word “assess” in S 153A is
relatable to the abated proceedings
and the word “reassess” to completed
assessment proceedings
Completed assessment can be
interfered with by the AO only on the
basis of incriminating material found
in the course of search action

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Addition u/s 153A vis-à-vis absence
of incriminating documents
Kurele Paper Mills which refers to Kabul
Chawla has been affirmed by Supreme
Court by dismissing Revenue’s petition on
7
th
December 2015
Continental Warehousing Corporation 374
ITR 645 (Bombay)
Saumya Construction Pvt. Ltd 387 ITR
0529(Gujarat)
Salasar Stock Broking Ltd (Calcutta)
Gurindersingh Bawa 386 ITR 483 (Bombay)

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Addition u/s 153A vis-à-vis absence
of incriminating documents
Judgment of Delhi HC –Dayawanti Gupta 390
ITR 496 was being interpreted to mean that
addition can be made u/s 153A even without
incriminating documents. Delhi High Court in
the recent and longest decision –Meeta
Gutgutia & Ors ITA 309/2017 delivered on
25
th
May 2017 analyzed judgments of all High
Courts reaffirmed the judgment of Kabul
Chawla and held that the no addition can be
made in absence of incriminating documents.

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Whether issue of notice u/s 143(2) Whether issue of notice u/s 143(2)
is mandatory for assessment? is mandatory for assessment?
Whether it is mandatory to issue notice u/s
143(2) within the time limit provided in
proviso to section 143(2) in assessment u/s
153A?
Supreme Court in the case of Hotel Blue
Moon has held that where the AO
repudiates the return filed by assessee in
response to notice u/s 158BC he must issue
notice u/s 143(2)within the time prescribed
in proviso to section 143(2)

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Whether issue of notice u/s 143(2) Whether issue of notice u/s 143(2)
is mandatory for assessment?is mandatory for assessment?
The controversy arose because section
153A does not mandate the issue of notice
u/s 143(2). It only requires issue of notice
for six assessment years. Secondly, the
judgment of Hotel Blue Moon was under
chapter XIV-B block assessment with
reference to section 158BC
Now there are three High Court Judgments
against the above propositions

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Whether issue of notice u/s 143(2) Whether issue of notice u/s 143(2)
is mandatory for assessment?is mandatory for assessment?
Ashok Chaddha Vs ITO 337 ITR 399 (Delhi)
CIT Vs Promy Kuriakose 386 ITR 597 (Kerala)
Tarsem Singla Vs CIT 385 ITR 138 (P & H)
A specific notice is required u/s 153A(1)(a)
calling upon the person searched to file
return and no further notice u/s 143(2)
could be contemplated and judgment of
Blue Moon was in the context of S. 158BC
to which provisions of section 142, 143 (2)
& (3), section 144 & 145 were specifically
applicable, so far as may be.

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Section 153C Issues
As per proviso the Section 153C-
Date of receiving documents by AO of
other person is the date of search or
making of requisition.
Date of abetment of proceedings in
the case of other person is the date
on which the AO of such person
receives documents/assets
SSP Aviation Ltd 252 CTR 291 (Delhi)

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Section 153C Issues
Normally the documents are handed over
by the AO of searched person to the AO of
the other persons only after he realizes that
the documents/assets belong to other
person. This has the effect of block period
being different in case of searched person
and other persons.
V K Fiscal Services Pvt Ltd ITA No 5460 to
5465 /Del/2012
R. L. Industries ITAT Delhi ITA No 567 &
568/Del/2011

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Section 153C Issues
Let us take a case that search is carried out in
March 2017. The block period for the searched
person will be AY 2011-12 to 2016-17.
However the AO of the searched person hand
over the documents or assets after 31
st
March
2018. Therefore, in case of other person the
block period will be A. Y. 2013-14 to 2018-19.

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SETTLEMENT COMMISSION

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SETTLEMENT COMMISSION
A premier Alternative Dispute
Resolution Body in India with the
mandate to resolve tax dispute in
respect of Income Tax and Wealth
Tax Laws between two disputing
parties – Income Tax Department on
one side and Litigating tax payer on
the other side

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SETTLEMENT COMMISSION
ITSC was set up in 1976 on the
recommendations of Direct Tax
Enquiry Committee set up under the
Chairmanship of Justice K. N.
Wanchoo popularly known as
“Wanchoo Committee”.
ITSC is an independent quasi-judicial
authority. It is an attached office of
the Department of Revenue

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SETTLEMENT COMMISSION
Settlement Commission comprises of
Chairman and as many Vice-chairmen
and other members as Central
Government thinks fit.
At present there are seven benches of
settlement commissions. Delhi Bench
is Principal Bench and other benches
are known as additional benches.

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SCOPE & POWER OF ITSC
ITSC mechanism allows taxpayer to
disclose additional income before it
over and above what has been
already been disclosed before Income
Tax Authority.
The applicant has to pay full amount
of tax and interest on additional
income disclosed before ITSC before
filing application

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SCOPE & POWER OF ITSC
ITSC decides upon the admissibility of
applications and carries out the process of
settlement in time bound manner by giving
opportunity to both the parties
Object of Chapter XIX-A is not to give
amnesty to tax evader from paying tax due
but to see that protracted litigation is
avoided and Revenue is collected earlier
CIT Vs Anjum Ghaswala 252 ITR 1 (SC)
CIT Vs Om Prakash Mittal 273 ITR 326 (SC)

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WHEN ONE CAN APPROACH ITSC
An applicant can approach ITSC in respect
of a “Case” if no assessment order is
passed by concerned IT authority in respect
of the assessment year/s and the statutory
time limits for passing of assessment order
for that assessment year has not lapsed.
W. e. f. 01/06/2007
Definition of “Case” is further expanded to
include such cases of search u/s 132 or
requisition of books of accounts u/s 132A
w. e. f. 1
st
June 2010

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WHEN ONE CAN APPROACH ITSC
The Finance Act 2010 excluded the
cases of reassessment, revision, set
aside or cancelled assessment from
the purview of the expression “Case”.
The Finance Act 2015 w. e. f.
01/06/2015 included cases of
reassessment. Similarly the Finance
Act 2014 included cases of revision
and set aside or cancelled assessment
as a “Case”.

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WHEN ONE CAN APPROACH ITSC
An applicant can approach ITSC in
respect of proceedings which are
pending. Proceedings are considered to
be pending from the 1
st
day of the
assessment year and it is not necessary
that a return of income is filed or notice
for scrutiny is issued before filing
application. However, one can not
approach ITSC once the assessment
order is passed or time for passing the
order has expired

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APPLICATION TO ITSC U/S 245C
Application to ITSC is in Form 34B
The application must contain a “Full and
True” disclosure of his income which has
not been disclosed before the AO. This is
the most important criteria.
The applicant must explain the manner in
which such income has been derived.
“Manner” of deriving undisclosed is one of
the most important criteria.

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APPLICATION TO ITSC U/S 245C
Additional amount of income tax
payable on such income must be paid
on or before filing of application and
such other particulars as may be
prescribed
The manner in which issues/disputes
be settled by ITSC and the manner in
which such application be disposed off
must be stated in the application

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APPLICATION TO ITSC U/S 245C
Additional tax and interest thereon
which would have been paid under the
provisions of Act had the income
disclosed in the application been
declared before the AO on the date of
application must be paid before the
date of making application
Every application shall be
accompanied by fee of Rs. 500/-.

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APPLICATION TO ITSC U/S 245C
In cases where proceedings for assessment
in Search Cases are initiated u/s 153A,
153B, 153C the additional amount of
income tax payable on income disclosed in
the application exceeds Rs 50 Lacs. It does
not include interest.
In any other case the additional amount of
tax on the income disclosed in application
exceeds Rs. 10 Lacs

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APPLICATION TO ITSC U/S 245C
w.e.f. 01/6/2011 new category of applicant
“Specified Persons” has been added for
the purpose of additional tax payable in
case the applicant is related to person who
is searched or requisition of books is made
and proceedings under section 153A, 153B,
153C are initiated against such person. In
such case additional income tax payable
shall be Rs. 10 Lakhs.

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
Section 245D of the I T Act set out the procedure
which is to be adopted by ITSC on receipt of an
application u/s 245C
On receipt of application u/s 245C the ITSC shall
within 7 days from the date of receipt of
application shall issue a notice to the applicant
requiring him to explain as to why the application
made by him be allowed to be proceeded with
ITSC within a period of 14 days from the date of
application by order in writing, reject the
application or allow the application to be proceeded

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
ITSC can reject the application if the
applicant does not satisfy the essential
conditions mentioned in section 245C
A copy of the application is to be sent
to IT Authority on the date of
application failing which it may be
rejected.
An applicant can not withdraw the
application after filing before ITSC
Section 245C(3)

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
An application can be rejected by
Commission during the course of
proceedings u/s 245D(1) within 14 days of
filing of application
As per proviso to section 245D(1) if the
application is not rejected within 14 days it
is deemed to have been admitted
Application can be rejected if applicant does
not satisfy the essential condition
mentioned in section 245C

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
On receipt of application Commission shall
issue the notice within seven days to the
applicant requiring him to explain as to why
the application made by him allowed to
proceeded with.
On hearing the applicant Commission shall
within a period of 14 days from the date of
application by an order in writing reject or
allow the application to be proceeded with

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
A copy of every order u/s 245D(1)
shall be sent applicant and Pr. CIT or
CIT
Settlement Commission shall call for
a report from Pr. CIT or CIT within
30 days of receipt of communication
from Commission

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
Where a Report of Pr. CIT or CIT called
for u/s 245D(2B) has been furnished the
Commission may on the basis of the
Report and after giving an opportunity of
hearing to both sides, within a period of
15 days by an order under s. 245D(2C)
in writing, declare the application as
valid or invalid and send the copy of the
same to the applicant and Pr. CIT or CIT

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
Section 245D(3) –Commission in respect
of an application which has not been
declared as invalid may call for the
records from PR. CIT and after
examination of such records if
Commission is of the opinion that any
further inquiry or investigation may direct
the PR. CIT or CIT to furnish the report to
be furnished within period of 90 days

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
Settlement Commission after examination of
the records and the Report of the
Commissioner, if any, received under sub-
section (2B) or Sub-Section (3) and after
giving an opportunity to the applicant as also
to Commissioner may pass such order in
accordance with the provisions of the Act on
the matters covered by the applicant and any
other matter relating to case not covered by
the applicant but referred to in the report of
the commissioner

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
Order u/s 245D(4) must be passed in 18
months from the date of application.
Section 245(6) every order passed u/s
245D(4) is to provide for the terms of
settlement including any demand by way
of tax, penalty or interest, the manner in
which any sum due under the settlement
is to be paid and all other matters to
make the settlement effective.

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SEC 245D PROCEDURE ON RECEIPT OF
APPLICATION
In the Order u/s 245D(4) Commission
is specifically to be provided that the
settlement would be void if it was
subsequently found by ITSC that it
had been obtained by fraud or
misrepresentation of facts.
CIT Vs Om Prakash Mittal 273 ITR
326 (SC)

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Whether disclosure made in
application can be revised?
A scheme of Chapter XIX-A does not
contemplate revision of the income so
declared in the application. Revision would
amount to fresh application not permitted
under the scheme.
True & Full Disclosure of income not
declared before AO, “Manner of deriving
undisclosed income and payment of tax on
additional income are pre-requisite of a
valid application.
Ajmera Housing 326 ITR 642 (SC)

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FULL & TRUE DISCLOSURE AND MANNER
The applicant is required to make “Full
& True Disclosure” of additional income
and the “Manner” of deriving the
undisclosed income in the application
which is a vital point for an application
to be allowed to be proceeded with.
The settlement application passes
through several stages before the final
order u/s 245D(4) is passed by ITSC

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FULL & TRUE DISCLOSURE AND MANNER
The first stage is under section 245D(1)
The next step is 245D(2C). Finally the order
is passed u/s 245D(4) providing terms of
settlement
Order u/s 245D(1) & 245D(2C) are not final
orders and they are subject to the order
passed u/s 245D(4)
Issue of “Full & True Disclosure” & “Manner”
is open till final order u/s 245D(4)

67. 10/06/2017 CA VIPIN K. GUJARATHI 67
EFFECT OF FILING APPLICATION TO ITSC
Once the application is filed before
ITSC, the jurisdiction for I T & Wealth
Tax purposes gets shifted to ITSC for
assessment proceedings. The
jurisdiction shifts not form the date of
admission but from the date of
submitting application.

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CHALLENGE TO ITSC ORDER
The Order of ITSC can be challenged in
court of law by filling a writ petition
when
Principles of natural justice are violated
Mandatory procedural requirements of
law were not complied with.
Normally High Court does not go into
the merits of the case unless order is
perverse.

69. 10/06/2017 CA VIPIN K. GUJARATHI 69
RECTIFICATION OF ORDER U/S 245D(4)
Whether the Final Order passed u/s
245D(4) can be rectified?
Section 245D(6B) Finance Act 2011
permits rectification of order within six
months from the date of order
Order can be rectified on application by
Pr. CIT or applicant. Application may
be filed by CIT or applicant within 6
months from the receipt of application

70. 10/06/2017 CA VIPIN K. GUJARATHI 70
APPLICATION TO ITSC –ONCE IN LIFE
TIME OPPORTUNITY
Benefit of settlement application can be
availed by taxpayer only once in life time
As per section 245K(2) provides that where
a person has made application on or after 1
st

June 2007 and if such application is allowed
to be proceeded with u/s 245d(1) such
person or any related person shall not be
subsequently entitled to make an application
An applicant whose application has been
rejected u/s245D(1) can still file application
for settlement. CIT Vs Bhaskar Picture Place
247 ITR 391 (SC)

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BENEFITS OF SETTLEMENT COMMISSION
Department to get over long and
continued litigation in complicated
cases with doubtful revenue
Time consuming litigation in regular
appellate procedure is avoided by
Department & assessee as well
Application is processed in time
bound manner in 18 months.

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BENEFITS OF SETTLEMENT COMMISSION
If the disclosure of the applicant is
“Full and True” benefit immunity from
penalties and prosecution are
available to the assessee
Confidentiality of assessee’s
disclosure is maintained as the same
could be used only in the settlement
Commission except as provided in
section 245HA(3) of the Act.

73. 10/06/2017 CA VIPIN K. GUJARATHI 73
Thank You
CA Vipin K. Gujarathi
Vipin Gujarathi & Associates
Poonam Plaza, Market Yard Road, Pune – 411 037
Tel No. 020 – 24275398/9
[email protected]