SetCom application not maintainable if assessee failed to disclose details of property & bank a/c held abroad

IT : Where petitioner had failed to make full and true disclosure of undisclosed income with reference to London property and two foreign bank accounts in bank at Singapore, of which petitioner was a beneficial and de facto owner i.e. he had failed to adduce specific and clear evidence to show that he was not beneficial owner of said accounts and London property was owned by his brother-in-law, ITSC had rightly rejected settlement application filed by petitioner as invalid

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