https://www.taxtmi.com/caselaws?id=35806 The court held that the settlement agreement did not exempt the firm from paying interest as per Section 220(2) of the Income Tax Act. The firm was obligated to pay the interest on the tax amount due, as the agreement did not provide for any waiver or reduction of such interest. The petition was dismissed, and no costs were awarded, with both judges concurring on the firm's obligation to pay interest as per statutory provisions, despite the terms of the settlement agreement. en-us Fri, 21 Dec 1979 00:00:00 +0530 Tue, 16 Mar 2010 17:33:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35806 The court held that the settlement agreement did not exempt the firm from paying interest as per Section 220(2) of the Income Tax Act. The firm was obligated to pay the interest on the tax amount due, as the agreement did not provide for any waiver or reduction of such interest. The petition was dismissed, and no costs were awarded, with both judges concurring on the firm's obligation to pay interest as per statutory provisions, despite the terms of the settlement agreement. Case-Laws Income Tax Fri, 21 Dec 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35806