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Thomas Philip – Appellant
Versus
Interim Board For Settlement-Ii Represented By Its Secretary (Replacing The Income Tax Settlement Commission) Additional Bench, Chennai) – Respondent
JUDGMENT :
A.K.Jayasankaran Nambiar, J.
The petitioner in W.P.(C).No.1175 of 2024 is the appellant before us aggrieved by the judgment dated 21.02.2024 of the learned Single Judge in the writ petition.
2. The brief facts necessary for disposal of this Writ Appeal are as follows:
The appellant has a 70% shareholding in two companies, namely M/s Delta Aggregators and Sand Pvt. Ltd. and M/s Delta Msand Pvt. Ltd. A search and seizure action under Section 132 of the Income Tax Act [hereinafter referred to as the “I.T. Act”] was carried out on 13.10.2017 at the business premises of the two companies as also at the residence of the appellant. Consequent to the search, notices under Section 153A of the I.T. Act were issued on 07.06.2018 to the companies as well as to the appellant for the assessment years 2012-13 to 2017-18. A notice under Section 143(2) of the I.T. Act was also issued on 23.09.2019 for the assessment year 2018-19.
3. During the pendency of the proceedings initiated under Section 153A, the appellant, along with the two companies, preferred settlement applications before the Interim Board for Settlement [IBS]. In this Writ Appeal, we are concerned only with the settlement applic
The court affirmed that the Settlement Commission's findings are conclusive unless there are grave procedural defects, emphasizing the limited scope of judicial review over such orders.
The main legal point established in the judgment is the Settlement Commission's authority to consider undisclosed income and loans not found during the search operation, and the treatment of loans as....
Court in exercise of its constitutional jurisdiction under Article 226 of the Constitution of India cannot substitute the findings of the Income Tax Settlement Commission with its own findings and co....
The Settlement Commission's orders are conclusive and can only be challenged on limited procedural grounds, emphasizing the importance of adherence to statutory provisions.
: Assessment – In an application under S.245C of Act, for settlement of applicant's income-tax case, there should be disclosure of income not earlier disclosed before the Assessing Officer
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