Wednesday, September 15, 2010

SC RULED: APPLICATION FOR SETTLEMENT CANNOT BE REVISED

The Supreme Court in case of Ajmera Housing Corporation vs. Commissioner of Income Tax has
declared that an application for settlement of an income tax case cannot be revised and the settlement
commission has to go by the original application and annexure filed in the prescribed form. Revision of annexure tantamount to revision of application and cannot be allowed under the scheme of settlement in Chapter XIX-A of the Income Tax, SC said.

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