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June 2025

Settlement Commission — Settlement of case — Power of Settlement Commission — Immunity from penalty and prosecution — Factors to be considered — Assessee co-operated in process of settlement and made full and true disclosure — Settlement Commission exercising discretion to proceed with application and granting immunity from penalty and prosecution considering Bonafide conduct of assessee — Order of Settlement commission need not be interfered with in writ jurisdiction:

By Keshav Bhujle | Ritu Punjabi, Advocates
Reading Time 7 mins

17 . Dy. CIT vs. ASM Traxim Pvt. Ltd.:

[2025] 474 ITR 25 (Del):

A.Ys. 2004-05 to 2011-12:

Date of order 28th October, 2024:

Ss. 245C, 245D(4) and 245H of ITA 1961:

Settlement Commission — Settlement of case — Power of Settlement Commission — Immunity from penalty and prosecution — Factors to be considered — Assessee co-operated in process of settlement and made full and true disclosure — Settlement Commission exercising discretion to proceed with application and granting immunity from penalty and prosecution considering Bonafide conduct of assessee — Order of Settlement commission need not be interfered with in writ jurisdiction:

During the search u/s. 132 and survey u/s. 133A of the Income-tax Act, 1961, the Department seized documents and material and also recorded the statements of various individuals of the assessee-company which belonged to the same group. During the pendency of assessment proceedings u/s. 153A and 153C Settlement applications were filed based on a combined or consolidated account which was prepared by chartered accountants. The Settlement Commission held such accounts to be unrel

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