Law:

Section:

Section 245-I, read with section 245D, of the Income-tax Act, 1961 - Settlement Commission - Order of, to be conclusive - Assessment year 1991-92 - Whether conclusiveness provided by section 245-I is only regarding such matters as are determined by Settlement Officer, meaning thereby, matters regarding liability of assessee under Act for undisclosed income, which becomes subject-matter of consideration before Settlement Commission - Held, yes - Whether section 245D does not clothe an order of Settlement Commission under section 245D(4) with such conclusiveness as to exclude any proceedings under Kerala General Sales Tax Act, 1963 on basis of undisclosed business income found by Settlement Commission in its order - Held, yes FACTS The business premises of the assessee, a firm, was searched under section 132(1) resulting in the seizure of certain documents, including two slips showing unaccounted sales. On the basis of the said slips, the Assessing Officer made additions. The assessee moved the Settlement Commission, which issued the order settling the case of assessee by reckoning profit on unaccounted turnover. In exercise ofsuo motu revisional power under section 35 of the Kerala General Sales Tax Act, 1963 ('KGST Act'), the competent authority reopened the assessment on the basis of suppressed business income determined by the Settlement Commission and issued the revised assessment order. In the meanwhile, the assessee challenged revisional order, before the Sales Tax Appellate Tribunal which was pending for final disposal. On writ, the assessee sought a declaration that the conclusiveness as to matters settled under the order of the Settlement Commission under section 245D applies to the proceedings under the KGST Act also and that orders under KGST Act be quashed. HELD The conclusiveness prescribed by section 245-I is as regards the matters covered by the order of the Settlement Commission on the matters covered by the application of the assessee and such matters relating to the case, not covered by the application, but referred to in the report of the Commissioner under sub-sections (1) and (3) of section 245D. So much so, the conclusiveness provided by…

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