- (1.) This Petition under Article 226 of the Constitution of India challenges the order dated 9th August, 2016 under Section 245(D)(4) of the Income Tax Act, 1961 (the Act) passed by the Income Tax Settlement Commission (the Commission).
(2.) The grievance of the petitioner to the impugned Order dated 9th August, 2016 of the Commission is it had rejected its application for settlement under Section 254(D)(4) of the Act on the ground of failure to make a full and true disclosure in the application for settlement. It is contended by the petitioners that the impugned order held that there is no full and true disclosure on account of the following three claims: (a) On money received by the petitioner; (b) Estimated expenses incurred out of on money; and (c) The entitlement to the benefit of Section 80IB of the Act.
(3.) However, we note that the impugned order dated 9th August, 2016 rejects the petitioners application for settlement on the following two grounds : (a) The application does not contain full and true disclosure of the applicant's income; and (b) The application does not contain the manner in which income disclosed has been earned. Consequently not satisfying the jurisdictional requirements of Section 245C(1) of the Act. ;