SETTLEMENT OF CASES |
Question 1 (SLID 01) (Revision / Home work)
Write short notes on the Constitution of Settlement Commission.
Question 2 (SLID 02) (Revision / Home work)
Benches of Settlement Commission [Section 245BA].
Question: 3 (SLID 03) (Revision / Home work)
State briefly the proceedings for assessment in respect of which application can be made before Settlement Commission on or after 1.6.2007. Explain the provisions relating to admission of application before Settlement Commission made on or after 1.6.2007.
Question: 4 (SLID 04) (Revision / Home work)
An Assessee’s case is pending in appeal before the income Tax Appellate Tribunal for Assessment Year 2005-06. Since the appeal is pending, the Assessee wishes to file an application to the Settlement Commission for disclosing additional income, the income tax on which is Rs. 15 Lakhs. Is it possible to make such application? Will your answer be different if the Tribunal sets aside the case and restores the matter to CIT (Appeals) ?
Question: 5 (SLID 05) (Revision / Home work)
Briefly describe the manner of computation of Additional Income Tax Payable.
Question: 6 (SLID 06) (Revision / Home work)
The orders of the Settlement Commission are conclusive. Discuss.
Question: 7 (SLID 07) (Revision / Home work)
Explain the consequences in case of rejection of the application by Settlement Commission [Section 245HA] is CIT (Appeals) empowered to consider an appeal filled by an assessee challenging the order of assessment in respect of which the proceedings before the Settlement Commission abates.
Question: 8 (SLID 08) (Revision / Home work)
When can a subsequent application to the Settlement Commission be barred ?
Question: 9 (SLID 09) (Revision / Home work)
Discuss the powers of the Settlement Commission. [Section 245H]
Power of the Settlement Commission to grant immunity from prosecution and penalty is limitless. Discuss.
Question: 10 (SLID 10)
The Settlement Commission does not have the power u/s 245D to reduce or waive the interest payable by an assessee under the provisions of Section 234A, 234B or 234C. discuss.
Question: 11 (SLID 11) (Revision / Home work)
There are parallel provisions which empower the Settlement Commission as well as the income – tax authorities to reduce or waive penalties and grant immunity from prosecution. In what respects do they overlap and in what respects do they differ?
Question: 12 (SLID 12)
Company X has made application to settlement commission, it has disclosed the tax liability of Rs. 23 crore. Once application was accepted and hearing was given to the assessee it disclosed additional income and offered tax of Rs. 8 crore additionally. Settlement commission has accepted the revised application. Whether the action of the settlement commission is justified ?
Question: 13 (SLID 13)
Seizures were made from Mr. Sunder pursuant to a search conducted in his premises. He filed an application for settlement by claiming to have received the amount by way of loans from several persons. The Settlement Commission accepted his statement and made an order. The CBI, however, conducted enquiry at the instance of the Revenue regarding the claimed amount of loans and opined that the alleged lenders had no means or financial capacity to advance such huge loans to Mr. Sunder and were mere name lenders only. The Commissioner filed an application under section 245D(6) praying for the order to be declared void and for withdrawal of benefit granted. Mr. Sunder, however, contended that the order of the Settlement Commission was final and any fresh analysis would amount to sitting in judgment over an earlier decision, for which the Settlement Commission was not empowered. Discuss the correctness of Mr. Sunder’s contention.
Question: 14 (SLID 14) (Revision / Home work)
The business premises of Mr. Amit was subjected to a survey under section 133A of the Act. There were some incriminating materials found at the time of survey. The assessee apprehends reopening of assessments of the earlier years. He wants to know whether he can approach the Settlement Commission. Explain briefly the basic conditions to be satisfied and the benefits that may accrue to Mr. Amit by approaching the Settlement Commission.