https://www.taxtmi.com/caselaws?id=332601 The High Court allowed the writ petition, setting aside the Income Tax Settlement Commission's order on the terminal date for charging interest under Section 234B. The Court emphasized that the power of review is not inherent and must be specifically conferred by statute. Rectification of mistakes apparent from the record is allowed, not review based on subsequent legal developments. The Commission's order was deemed unsustainable and quashed, with the Department entitled to interest as ordered in a specific prior decision. No costs were awarded in this judgment. en-us Mon, 12 Sep 2016 00:00:00 +0530 Fri, 23 Sep 2016 14:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332601 The High Court allowed the writ petition, setting aside the Income Tax Settlement Commission's order on the terminal date for charging interest under Section 234B. The Court emphasized that the power of review is not inherent and must be specifically conferred by statute. Rectification of mistakes apparent from the record is allowed, not review based on subsequent legal developments. The Commission's order was deemed unsustainable and quashed, with the Department entitled to interest as ordered in a specific prior decision. No costs were awarded in this judgment. Case-Laws Income Tax Mon, 12 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332601