Section 245BD of Income Tax Act "Decision to be by majority"
245BD. If the Members of a Bench differ in opinion on any point, the point shall be decided according to the opinion of the majority, if there is a majority, but if the Members are equally divided, they shall state the point or points on which they differ, and make a reference to the Chairman who shall either hear the point or points himself or refer the case for hearing on such point or points by one or more of the other Members of the Settlement Commission and such point or points shall be decided according to the opinion of the majority of the Members of the Settlement Commission who have heard the case, including those who first heard it.
245C. (1) An assessee may, at any stage of a case
relating to him, make an application in such form and in
such manner as may be prescribed, and containing a full and
true disclosure of his income which has not been disclosed
before the Assessing Officer, the manner in which such
income has been derived, the additional amount of income-tax
payable on such income and such other particulars as may be
prescribed, to the Settlement Commission to have the case
settled and any such application shall be disposed of in the
manner hereinafter provided :
Provided that no such application shall be made unless,-
(i) in a case where proceedings for assessment or
reassessment for any of the assessment years referred to in
clause (b) of sub-section (1) of section 153A or clause (b)
of sub-section (1) of section 153B in case of a person
referred to in section 153A or section 153C have been
initiated, the additional amount of income-tax payable on
the income disclosed in the application exceeds fifty lakh
rupees,
(ia) in a case where-
(A) the applicant is related to the person referred to in
clause (i) who has filed an application (hereafter in this
sub-section referred to as "specified person"); and
(B) the proceedings for assessment or re-assessment for any
of the assessment years referred to in clause (b) of
sub-section (1) of section 153A or clause (b) of sub-section
(1) of section 153B in case of the applicant, being a person
referred to in section 153A or section 153C, have been
initiated,
the additional amount of income-tax payable on the income
disclosed in the application exceeds ten lakh rupees,
(ii) in any other case, the additional amount of income-tax
payable on the income disclosed in the application exceeds
ten lakh rupees,
and such tax and the interest thereon, which would have been
paid under the provisions of this Act had the income
disclosed in the application been declared in the return of
income before the Assessing Officer on the date of
application, has been paid on or before the date of making
the application and the proof of such payment is attached
with the application.
Explanation.-For the purposes of clause (ia),-
(a) the applicant, in relation to the specified person
referred to in clause (ia), means,-
(i) where the specified person is an individual, any
relative of the specified person;
(ii) where the specified person is a company, firm,
association of persons or Hindu undivided family, any
director of the company, partner of the firm, or member of
the association or family, or any relative of such director,
partner or member;
(iii) any individual who has a substantial interest in the
business or profession of the specified person, or any
relative of such individual;
(iv) a company, firm, association of persons or Hindu
undivided family having a substantial interest in the
business or profession of the specified person or any
director, partner or member of such company, firm,
association or family, or any relative of such director,
partner or member;
(v) a company, firm, association of persons or Hindu
undivided family of which a director, partner or member, as
the case may be, has a substantial interest in the business
or profession of the specified person; or any director,
partner or member of such company, firm, association or
family or any relative of such director, partner or member;
(vi) any person who carries on a business or profession,-
(A) where the specified person being an individual, or any
relative of such specified person, has a substantial
interest in the business or profession of that person; or
(B) where the specified person being a company, firm,
association of persons or Hindu undivided family, or any
director of such company, partner of such firm or member of
the association or family, or any relative of such director,
partner or member, has a substantial interest in the
business or profession of that person;
(b) a person shall be deemed to have a substantial interest
in a business or profession, if-
(A) in a case where the business or profession is carried on
by a company, such person is, on the date of search, the
beneficial owner of shares (not being shares entitled to a
fixed rate of dividend, whether with or without a right to
participate in profits) carrying not less than twenty per
cent of the voting power; and
(B) in any other case, such person is, on the date of
search, beneficially entitled to not less than twenty per
cent of the profits of such business or profession.
(1A) For the purposes of sub-section (1) of this section,
the additional amount of income-tax payable in respect of
the income disclosed in an application made under
sub-section (1) of this section shall be the amount
calculated in accordance with the provisions of sub-sections
(1B) to (1D).
(1B) Where the income disclosed in the application relates
to only one previous year,-
(i) if the applicant has not furnished a return in respect
of the total income of that year, then, tax shall be
calculated on the income disclosed in the application as if
such income were the total income;
(ii) if the applicant has furnished a return in respect of
the total income of that year, tax shall be calculated on
the aggregate of the total income returned and the income
disclosed in the application as if such aggregate were the
total income.
(1C) The additional amount of income-tax payable in respect
of the income disclosed in the application relating to the
previous year referred to in sub-section (1B) shall be,-
(a) in a case referred to in clause (i) of that sub-section,
the amount of tax calculated under that clause;
(b) in a case referred to in clause (ii) of that
sub-section, the amount of tax calculated under that clause
as reduced by the amount of tax calculated on the total
income returned for that year;
(c) [***].
(1D) Where the income disclosed in the application relates
to more than one previous year, the additional amount of
income-tax payable in respect of the income disclosed for
each of the years shall first be calculated in accordance
with the provisions of sub-sections (1B) and (1C) and the
aggregate of the amount so arrived at in respect of each of
the years for which the application has been made under
sub-section (1) shall be the additional amount of income-tax
payable in respect of the income disclosed in the
application.
(1E) [***]
(2) Every application made under sub-section (1) shall be
accompanied by such fees as may be prescribed.
(3) An application made under sub-section (1) shall not be
allowed to be withdrawn by the applicant.
(4) An assessee shall, on the date on which he makes an
application under sub-section (1) to the Settlement
Commission, also intimate the Assessing Officer in the
prescribed manner of having made such application to the
said Commission.