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September 2023

Section 245HA — Settlement Commission — paying additional tax and interest on the income disclosed — Additional tax had to be calculated and paid by the Petitioner on such application.

By Ajay R. Singh, Advocate
Reading Time 8 mins
14. Mahesh Gupta HUF vs. Income Tax Settlement Commission
[WP No. 947 Of 2009, Dated: 14th July, 2023. (Bom.) (HC).]

Section 245HA — Settlement Commission — paying additional tax and interest on the income disclosed — Additional tax had to be calculated and paid by the Petitioner on such application.

The Petitioner challenged an Order dated 11th January, 2008 passed by Settlement Commission, under Section 245HA of the Income-tax Act, 1961 holding that the Applications filed by the Petitioner under Section 245-C of the Act had abated due to short payment of taxes as required by the 245D of the Act.

A survey action under Section 133-A of the Act was conducted at the office premises of the Petitioner. The possession of various documents was taken by the survey party from both the places and statements of various persons were recorded.

The Petitioner filed an Application dated 17th May, 2006, under Section 245-C of the Act, for the Assessment Years 2002–03, 2003–04 and 2004–05. By the said Application, the Petitioner disclosed additional income and the tax on the additional income. The Commissioner of Income Tax-XIV, Mumbai, forwarded his Report dated 17th July, 2006 in the prescribed proforma under Section 245D(1) of the Act for the Assessment Years 2002–03 to 2004–05.

The said Application of the Petitioner was admitted by Settlement Commission
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