https://www.taxtmi.com/caselaws?id=76907 The HC dismissed the Writ Petition, affirming the Settlement Commission's rectified order to levy interest under Section 234B of the Income Tax Act, 1961. The Court held that the Commission was correct in rectifying its earlier decision, as the levy of interest is mandatory, aligning with SC rulings in Anjum Ghaswala and Hindustan Bulk Carriers. The Court emphasized that the Settlement Commission's decision to correct the error was justified, and no costs were awarded. en-us Fri, 02 Jul 2010 00:00:00 +0530 Sun, 22 Dec 2024 08:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76907 The HC dismissed the Writ Petition, affirming the Settlement Commission's rectified order to levy interest under Section 234B of the Income Tax Act, 1961. The Court held that the Commission was correct in rectifying its earlier decision, as the levy of interest is mandatory, aligning with SC rulings in Anjum Ghaswala and Hindustan Bulk Carriers. The Court emphasized that the Settlement Commission's decision to correct the error was justified, and no costs were awarded. Case-Laws Income Tax Fri, 02 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76907