https://www.taxtmi.com/caselaws?id=213627 A settlement commission cannot use Section 154 of the Income-tax Act to reopen concluded settlement proceedings or withdraw a waiver of interest under Sections 234B and 234C once the settlement application has been allowed to proceed. The legal position, as reflected in the Supreme Court ruling discussed, is that further charge of interest under Section 234B is not permissible after such settlement, and rectification cannot be used to unsettle finality. The impugned order and consequential demand notices were therefore inconsistent with the settled rule governing final settlement proceedings and interest liability. en-us Tue, 15 May 2012 00:00:00 +0530 Sun, 20 Jan 2013 21:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213627 A settlement commission cannot use Section 154 of the Income-tax Act to reopen concluded settlement proceedings or withdraw a waiver of interest under Sections 234B and 234C once the settlement application has been allowed to proceed. The legal position, as reflected in the Supreme Court ruling discussed, is that further charge of interest under Section 234B is not permissible after such settlement, and rectification cannot be used to unsettle finality. The impugned order and consequential demand notices were therefore inconsistent with the settled rule governing final settlement proceedings and interest liability. Case-Laws Income Tax Tue, 15 May 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213627