A survey is conducted in the premises of the assessee and assessments are reopened for some assessment years. An application for settlement could be made to the Settlement Commission when the additional amount of income-

CS Executive · Tax Laws and Practice · PYQS · December 2016
A survey is conducted in the premises of the assessee and assessments are reopened for some assessment years. An application for settlement could be made to the Settlement Commission when the additional amount of income-tax payable on the income disclosed in the application exceeds —
(A) ₹50 lakh
(B) ₹25 lakh
(C) ₹10 lakh
(D) ₹100 lakh.

Answer & Explanation:

Correct Answer: Option (A)

Official answer key: (A).

Topics: Income Tax

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