https://www.taxtmi.com/caselaws?id=346556 The High Court held that the Income Tax Settlement Commission lacked the power to reopen proceedings after conclusion and alter the terminal date for charging interest based on a subsequent Supreme Court decision. The Court emphasized that rectification powers could only be used for correcting mistakes apparent from the record and that subsequent legal developments cannot be a basis for review. As a result, the impugned order was deemed unsustainable, and the writ petition was allowed, leading to the quashing of the order without costs. en-us Wed, 02 Aug 2017 00:00:00 +0530 Fri, 18 Aug 2017 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346556 The High Court held that the Income Tax Settlement Commission lacked the power to reopen proceedings after conclusion and alter the terminal date for charging interest based on a subsequent Supreme Court decision. The Court emphasized that rectification powers could only be used for correcting mistakes apparent from the record and that subsequent legal developments cannot be a basis for review. As a result, the impugned order was deemed unsustainable, and the writ petition was allowed, leading to the quashing of the order without costs. Case-Laws Income Tax Wed, 02 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346556