https://www.taxtmi.com/caselaws?id=332440 The Supreme Court allowed appeals challenging the Settlement Commission's authority to waive statutory interest, clarifying that the Commission cannot reduce or waive interest beyond relief granted by CBDT circulars. The Commission was directed to examine the applicability of specific circulars for relief entitlement. The Court held that the Commission lacked jurisdiction to reopen proceedings for shifting the terminal date for interest calculation under Section 234B. The judgment favored the petitioners on this issue, quashing the Commission's order and confirming the original terminal date determined by the Commission. en-us Thu, 08 Sep 2016 00:00:00 +0530 Fri, 16 Sep 2016 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332440 The Supreme Court allowed appeals challenging the Settlement Commission's authority to waive statutory interest, clarifying that the Commission cannot reduce or waive interest beyond relief granted by CBDT circulars. The Commission was directed to examine the applicability of specific circulars for relief entitlement. The Court held that the Commission lacked jurisdiction to reopen proceedings for shifting the terminal date for interest calculation under Section 234B. The judgment favored the petitioners on this issue, quashing the Commission's order and confirming the original terminal date determined by the Commission. Case-Laws Income Tax Thu, 08 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332440