Where petitioner had failed to make full and true disclosure of undisclosed income with reference to foreign property and foreign bank accounts, of which petitioner was a beneficial owner i.e., Income Tax Settlement Commission had rightly rejected settlement application filed by petitioner as invalid

The Honorable High Court Of Delhi in the above case has held that in case the assessee has filed an application with ITSC for the settlement of cases relating to him, the ITSC has right to reject the application made in case the applicant doesn’t disclose the details of undisclosed income, bank accounts and the property in his name.