COMMISSIONER OF INCOME TAX Vs. K. JAYAPRAKASH NARAYANAN

JUDGEMENT

(1.) DELAY condoned.

(2.) THIS SLP is filed against the decision of the Settlement Commission admitting the application of the assessee under s. 245D of the IT Act, 1961. It is the case of the Department that the assessee had failed to make full and true disclosure in the first instance and that the said declaration made at a later date by way of second declaration cannot be the ground for admitting the application under s. 245D. Since this SLP is filed only against the order of the Settlement Commission admitting the application of the assessee under s. 245D, we do not wish to interfere at this stage. However, we make it clear that on the point of maintainability of the application, it would be open to the Department to raise the contention before the Settlement Commission who would be entitled to examine that question at the final hearing of the matter.

(3.) THE SLP is disposed of accordingly.