BALDEVBHAI BHIKHABHAI PATEL Vs. INCOME-TAX SETTLEMENT COMMISSION

JUDGEMENT

(1.) Petitioner has approached this Court challenging the order of the Settlement Commission dated 29.09.2016 passed under section 245D(4) of the Income Tax Act,1961 ['the Act' for short].

(2.) Facts in brief are as under: The petitioner is an individual carrying on business as Labour contractor as well as a broker dealing in land and building. Survey under section 133A of the Act was conducted at the residence-cum-business premises of the assessee on 23.03.2013. During such survey, incriminating documents were found such as diaries and loose papers. These documents and papers were later impounded. According to the department, the documents impounded revealed unaccounted business dealings and unaccounted income of the assessee. The Income Tax authorities initiated re-assessment proceedings in respect of the assessment years 2007-08 to assessment years 2012-13 and notice under section 133(2) was issued in respect of the assessment year 2013-14.

(3.) On 30.03.2015, the petitioner filed an application under section 245C of the Act before the Settlement Commission, Mumbai. By an order dated 08.04.2015, the Commissioner admitted the application and allowed the same to be proceeded further.