PURANCHANDRA J. RAO Vs. INCOME TAX SETTLEMENT COMMISSION

JUDGEMENT

(1.) PETITIONER has moved this Court seeking to challenge the order dt. 9th June, 2006 passed by the Settlement Commission under Section 245D(1) of the IT Act and the order dt. 2nd Aug., 2006 under Section 142(2A) of the IT Act.

(2.) INSOFAR as the order of the Settlement Commission is concerned, learned Counsel submits that the application was rejected on two counts. Firstly that there was no complexity of investigation and secondly there was no full and true disclosure.

(3.) ON the other hand, on behalf of the respondent learned Counsel submits that Settlement Commission has rightly rejected the application of the petitioner as there was no true and full disclosure.