Commissioner Of Income Tax vs B.N. Bhattachargee & Anr.

Whether the Settlement Commission has power to review its own order rejecting an application under Section 245D(1) of the Income Tax Act, 1961 --- Held Yes; Whether the Commissioner of Income Tax can object to settlement proceedings after facilitating the assessee's application by withdrawing departmental appeals --- Held Yes, but subject to principles of natural justice; Whether withdrawal of appeals by the Revenue amounts to 'not preferring an appeal' under Section 245M --- Held No, withdrawal does not obliterate the fact that an appeal was preferred.