https://www.taxtmi.com/caselaws?id=274500 The High Court considered the Settlement Commission's authority to waive or reduce statutory interest under Sections 234-A, 234-B, and 234-C. It ruled that the Commission cannot reduce or waive interest beyond relief granted in CBDT circulars. The Court remanded the matter to assess the circulars' applicability. Additionally, it clarified that the Commission lacks inherent review power and subsequent legal developments do not grant review jurisdiction. The Court quashed orders related to interest computation and confirmed the terminal date fixed by the Commission. en-us Wed, 31 Aug 2016 00:00:00 +0530 Sat, 18 Aug 2018 13:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274500 The High Court considered the Settlement Commission's authority to waive or reduce statutory interest under Sections 234-A, 234-B, and 234-C. It ruled that the Commission cannot reduce or waive interest beyond relief granted in CBDT circulars. The Court remanded the matter to assess the circulars' applicability. Additionally, it clarified that the Commission lacks inherent review power and subsequent legal developments do not grant review jurisdiction. The Court quashed orders related to interest computation and confirmed the terminal date fixed by the Commission. Case-Laws Income Tax Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274500