Settlement Commission Order cannot be Rectified u/s 154 of Income Tax Act: Madras HC [Read Order]

Settlement Commission's orders are final and conclusive on matters mentioned in the settlement application, except in cases of fraud or misrepresentation
By Navasree A.M - On August 16, 2024 3:42 pm - 2 mins read
Settlement Commission Order - Income Tax Act - under Section 154 of Income tax Act - under Section 154 - Madras HC - Madras High Court - Assessing Officer - taxscan

The Madras High Court ruled that the Assessing Officer ( AO ) cannot rectify the order issued by the Settlement Commission. The rectification under Section 154 of Income tax Act, 1961 cannot be invoked for the settlement proceedings. Both counsels for the petitioner and the income tax department (respondents) submitted that the issue at hand…

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