(1.) I have been privileged to read the judgment prepared by brother Justice Dr. Satish Chandra. I agree with the final verdict in the present appeal but respectfully, I express my separate opinion.
(2.) After filing return in response to the notice issued under section 153A and 153C of the Income-tax Act (in short the Act) for the assessment years 2000-01 to 2006-07, the assessee moved an application before the Settlement Commission on 31-5-2007 in pursuance to the power conferred by section 245C of the Act. The Settlement Commission while allowing the application and settling the dispute for the assessment year in question under section 245D(4) by order dated 31-5-2008 with regard to undisclosed income of the assessee, made observation that the CIT/AO may take such action as appropriate in respect of the matter not placed before the Commission by the assessee in terms of provision contained in section 245F(4) of the Income-tax Act, 1961. The Tribunal relying upon a recent Division Bench judgment of this Court reported in Smt. Neeru Agarwal v. Union of India, 2011 330 ITR 422 held that the dispute adjudicated by the settlement commission shall be conclusive and final in terms of provision contained in section 245-I of the Act, hence Assessing Officer had committed substantial illegality by reopening the issue on the alleged ground that certain facts is not disclosed.
(3.) Section 245C of the Act empowers the assessee to move an application at any stage of a case relating to him that full and true disclosure of income, which has not been disclosed before the Assessing Officer subject to rider contained in section 245C of the Act. The Settlement Commission may allow or reject the application, but in any case in view of provision contained in section 245C of the Act, the application moved under sub-section (1) of the said section, cannot be allowed to be withdrawn by the applicant.
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