Section 245HA of ITA, 1961 : Section 245Ha: Abatement Of Proceeding Before Settlement Commission

Explanation using Example

Imagine a scenario where a company named 'Tech Innovations Pvt. Ltd.' decides to settle its pending income tax disputes using the Income Tax Settlement Commission. On June 15, 2007, the company files an application under section 245C of the Income-tax Act, 1961, to settle its tax liabilities.

However, the Settlement Commission rejects the application on July 20, 2007, under section 245D(1). According to section 245HA of the Income-tax Act:

• The proceedings before the Settlement Commission will abate on the day the application was rejected, i.e., July 20, 2007.
• The Assessing O...

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