https://www.taxtmi.com/caselaws?id=279217 The High Court set aside the Settlement Commission's order granting waiver of interest on tax payable, citing Supreme Court judgments limiting the Commission's power to waive interest. The Court allowed department's petitions challenging the order, emphasizing that interest could only be levied until the stage of passing the order under the Income Tax Act. The original order was modified to reverse the interest waiver, ensuring interest collection in accordance with Supreme Court rulings. The Court clarified guidelines for interest levy post the specified stage under Section 245D(1) as determined by the Supreme Court. en-us Thu, 28 Jul 2016 00:00:00 +0530 Fri, 08 Mar 2019 06:55:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279217 The High Court set aside the Settlement Commission's order granting waiver of interest on tax payable, citing Supreme Court judgments limiting the Commission's power to waive interest. The Court allowed department's petitions challenging the order, emphasizing that interest could only be levied until the stage of passing the order under the Income Tax Act. The original order was modified to reverse the interest waiver, ensuring interest collection in accordance with Supreme Court rulings. The Court clarified guidelines for interest levy post the specified stage under Section 245D(1) as determined by the Supreme Court. Case-Laws Income Tax Thu, 28 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279217