PRL COMMR OF INCOME TAX, RJY, E.G.DIST vs. M/S KADAKATLA RICE MILL, TADEPALLIGUDEM, W.G.DIST

Bench: The Income Tax Settlement Commission/Respondent No. 1 On 8Th April, 2015 For Settlement Of Its Income Tax Matters By Disclosing An Income Of Rs. 3,93,93,544/-. The Aforesaid Application Of The Respondent No. 2 Was Proceeded With Under Section 245 D (1) Of The Income Tax Act, 1961 By An Order Dated 21St April, 2015. After Receipt Of The Report Under Section 245 D (2B) Of The Act, From The

capital @ 2% which works out to Rs. 7,80,000/-. The same shall also be included in addition to Rs. 12,606/- as per Tax Audit Report.” Learned Advocate appearing for the petitioner/Income Tax Authority in support of his contention and against the impugned order of the Settlement Commission apart from its Report under Rule 9 of Income Tax Settlement