C.I.T. Jalpaiguri vs Om Prakash Mittal

The Supreme Court upheld the decision of the Income Tax Settlement Commission, affirming that the order dated 18.9.1990, passed under Section 245D(4) of the Income Tax Act, 1961, granting settlement benefits to the respondent-assessee, was valid. The Court ruled that the Commissioner of Income Tax's application to declare the settlement void under Section 245D(6) was not maintainable, as the Commission's order was final under Section 245I. The Court emphasized that the Commission had appropriately assessed the evidence presented regarding the loans claimed by the assessee.