https://www.taxtmi.com/caselaws?id=245128 The High Court set aside the Settlement Commission's order on interest liability waiver and rectification powers, finding that the Commission exceeded its authority by modifying the interest liability. The Court emphasized that the Commission lacked the power of rectification, as established in a previous Supreme Court decision. It clarified that the question of interest liability waiver or reduction should be addressed through proper legal channels by the Revenue. The judgment highlights the importance of following legal procedures and the boundaries of the Settlement Commission's powers, emphasizing the need for parties to seek redress within the legal framework. en-us Mon, 03 Mar 2014 00:00:00 +0530 Sat, 07 Jun 2014 10:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245128 The High Court set aside the Settlement Commission's order on interest liability waiver and rectification powers, finding that the Commission exceeded its authority by modifying the interest liability. The Court emphasized that the Commission lacked the power of rectification, as established in a previous Supreme Court decision. It clarified that the question of interest liability waiver or reduction should be addressed through proper legal channels by the Revenue. The judgment highlights the importance of following legal procedures and the boundaries of the Settlement Commission's powers, emphasizing the need for parties to seek redress within the legal framework. Case-Laws Income Tax Mon, 03 Mar 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245128