https://www.taxtmi.com/caselaws?id=388352 The Supreme Court, in the case of Brij Lal, clarified that the Income Tax Settlement Commission lacks the jurisdiction to reopen concluded proceedings using Section 154 of the Income Tax Act, 1961. The Court emphasized that Settlement Commission orders are final and conclusive, akin to quasi-judicial decisions of the ITAT, and invoking Section 154 would undermine the settlement's finality. As a result, the Settlement Commission's order regarding interest levies was challenged and subsequently overturned, with the Court ruling in favor of the petitioners and no costs imposed. en-us Mon, 16 Sep 2019 00:00:00 +0530 Thu, 14 Nov 2019 10:34:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=388352 The Supreme Court, in the case of Brij Lal, clarified that the Income Tax Settlement Commission lacks the jurisdiction to reopen concluded proceedings using Section 154 of the Income Tax Act, 1961. The Court emphasized that Settlement Commission orders are final and conclusive, akin to quasi-judicial decisions of the ITAT, and invoking Section 154 would undermine the settlement's finality. As a result, the Settlement Commission's order regarding interest levies was challenged and subsequently overturned, with the Court ruling in favor of the petitioners and no costs imposed. Case-Laws Income Tax Mon, 16 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=388352