https://www.taxtmi.com/caselaws?id=328274 Interest under section 220(2) of the Income-tax Act was treated as chargeable only from default under a valid demand notice arising after the fresh Settlement Commission order, not from the original demand date. On the facts, the earlier demand had already been satisfied and the original order had been set aside, so the CBDT circular relied on by the Revenue did not apply to compute interest for the earlier period. Applying strict construction of taxing provisions, the Tribunal found that interest could not be levied before the fresh order and that rejection of the rectification application under section 154 was not sustainable. en-us Wed, 25 May 2016 00:00:00 +0530 Tue, 31 May 2016 11:44:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328274 Interest under section 220(2) of the Income-tax Act was treated as chargeable only from default under a valid demand notice arising after the fresh Settlement Commission order, not from the original demand date. On the facts, the earlier demand had already been satisfied and the original order had been set aside, so the CBDT circular relied on by the Revenue did not apply to compute interest for the earlier period. Applying strict construction of taxing provisions, the Tribunal found that interest could not be levied before the fresh order and that rejection of the rectification application under section 154 was not sustainable. Case-Laws Income Tax Wed, 25 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328274