Ajmera Hng.Corp.& Anr.Etc.Etc vs Commissioner Of Income Tax

The Supreme Court addressed appeals arising from a Bombay High Court judgment that set aside an order by the Income Tax Settlement Commission under Section 245D(4) of the Income Tax Act, 1961. The Court held that the High Court's remand for fresh consideration was justified, emphasizing the need for a thorough examination of the disclosures made by the assessee under Section 245C(1). The outcome reinstated the Settlement Commission's authority to reassess the case based on the High Court's observations, thereby ensuring compliance with procedural requirements under the Act.