https://www.taxtmi.com/caselaws?id=152063 The judgment clarified the period for charging interest under section 234B in different scenarios. It determined specific timelines for interest payment based on the situation. Additionally, it concluded that the Settlement Commission's order cannot be considered a regular assessment for interest calculation purposes. The Commission lacks the authority to reduce or waive interest under section 234B. The machinery provisions for charging interest should align with legislative intent to compensate for tax payment delays. The case was remanded for further action in accordance with the judgment's principles. en-us Tue, 28 Mar 1995 00:00:00 +0530 Mon, 24 Jun 2013 10:24:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152063 The judgment clarified the period for charging interest under section 234B in different scenarios. It determined specific timelines for interest payment based on the situation. Additionally, it concluded that the Settlement Commission's order cannot be considered a regular assessment for interest calculation purposes. The Commission lacks the authority to reduce or waive interest under section 234B. The machinery provisions for charging interest should align with legislative intent to compensate for tax payment delays. The case was remanded for further action in accordance with the judgment's principles. Case-Laws Income Tax Tue, 28 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152063