August 2023
Glimpses of Supreme Court Rulings
By Kishor Karia, Chartered Accountant
Atul Jasani, Advocate
Reading Time 21 mins
41. Jagdish Transport Corporation and Ors. vs.
UOI and Ors.
(2023) 454 ITR 264 (SC)
Settlement Commission — Settlement Commission passed an order to comply with the directions of the High Court to dispose of the application on or before 31st March, 2008, after specifically observing that it was not practicable for the Commission to examine the records and investigate the case for proper Settlement and to give adequate opportunity to the applicant and the Department, as laid down in section 245D(4) of the Act — The order passed by the Settlement Commission was a nullity and could not be said to be an order in the eye of law — Matter was remitted to the Interim Board for fresh adjudication.
A search was conducted under section 132 of the Income-tax, Act, 1961 (for short “the Act”) on the business premises of the assessee firm as well as the residence of the partners.
Consequently, notices under section 153A were issued to all the assessees for the A.Ys. 1998-99 to 2004-05.
The return of income was filed by assesses under section 153A of the Act for the aforesaid assessment years.
An application under section 245C(1) of the Act was filed by the assesses before the Income Tax Settlement Commission (for short “the Settlement Commission”).
As per section 245HA, inserted by the Finance Act, 2007, the application was to be decided by the Settlement Commission
