https://www.taxtmi.com/caselaws?id=11213 The court held that orders made by the Income-tax Settlement Commission under section 245D(4) are final and conclusive, immune from being reopened except in cases of fraud. It affirmed that the Settlement Commission lacks the authority to waive or reduce statutory interest under sections 234A, 234B, and 234C, and cannot rectify orders under section 154 post-issuance. Emphasizing the concept of functus officio, the court quashed the Settlement Commission's orders under section 154, underscoring the importance of finality in legal proceedings and upholding the legislative intent behind Chapter XIX-A of the Income-tax Act. en-us Tue, 13 Apr 2004 00:00:00 +0530 Sat, 01 Aug 2009 18:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11213 The court held that orders made by the Income-tax Settlement Commission under section 245D(4) are final and conclusive, immune from being reopened except in cases of fraud. It affirmed that the Settlement Commission lacks the authority to waive or reduce statutory interest under sections 234A, 234B, and 234C, and cannot rectify orders under section 154 post-issuance. Emphasizing the concept of functus officio, the court quashed the Settlement Commission's orders under section 154, underscoring the importance of finality in legal proceedings and upholding the legislative intent behind Chapter XIX-A of the Income-tax Act. Case-Laws Income Tax Tue, 13 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11213