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SetCom cannot accept calculations made by applicant without any deliberation: Madras HC

May 28, 2020[2020] 116 taxmann.com 735 (Madras)
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INCOME TAX : Where the revenue has challenged order passed by Settlement Commission on application filed by applicant on the ground that there was shortfall in payment of tax on admitted liability by applicant, since arithmetic of transactions disclosed before Settlement Commission do not add up and clearly shows that there were large scale suppressions resorted to by applicant and said calculations have been accepted without any deliberation by Settlement Commission, it is clear that applicant has not disclosed truly all facts that are required for settling the case and thus impugned order was to be quashed and matter remanded to Settlement Commission to pass fresh order

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