https://www.taxtmi.com/caselaws?id=220995 The Supreme Court held that the Settlement Commission lacked jurisdiction to reopen concluded proceedings under Section 154 of the Income Tax Act to levy interest under section 234B if not done initially. The Court emphasized the finality of Settlement Commission orders, akin to arbitration proceedings, and outlined limitations on rectification powers. Citing Brij Lal's case, the Court concluded that the Settlement Commission cannot revisit concluded proceedings, setting aside the order in question. This case clarified the distinct nature of settlement proceedings and the Commission's jurisdiction and rectification limitations. en-us Fri, 20 Jul 2012 00:00:00 +0530 Mon, 21 Jan 2013 13:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220995 The Supreme Court held that the Settlement Commission lacked jurisdiction to reopen concluded proceedings under Section 154 of the Income Tax Act to levy interest under section 234B if not done initially. The Court emphasized the finality of Settlement Commission orders, akin to arbitration proceedings, and outlined limitations on rectification powers. Citing Brij Lal's case, the Court concluded that the Settlement Commission cannot revisit concluded proceedings, setting aside the order in question. This case clarified the distinct nature of settlement proceedings and the Commission's jurisdiction and rectification limitations. Case-Laws Income Tax Fri, 20 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220995