https://www.taxtmi.com/caselaws?id=758284 The Madras HC ruled that the Settlement Commission lacked power to rectify interest levied under sections 234A, 234B and 234C through a March 2003 order. The court held that rectification powers under section 245D(6B) were only granted from June 1, 2011, making the earlier rectification invalid. Citing Supreme Court precedent, the court determined that interest under section 234B should be calculated only until the initial order date under section 245D(1), not the final settlement order. The Settlement Commission cannot reopen concluded proceedings using section 154 to levy additional interest. Writ petition was allowed. en-us Thu, 08 Aug 2024 00:00:00 +0530 Tue, 10 Sep 2024 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758284 The Madras HC ruled that the Settlement Commission lacked power to rectify interest levied under sections 234A, 234B and 234C through a March 2003 order. The court held that rectification powers under section 245D(6B) were only granted from June 1, 2011, making the earlier rectification invalid. Citing Supreme Court precedent, the court determined that interest under section 234B should be calculated only until the initial order date under section 245D(1), not the final settlement order. The Settlement Commission cannot reopen concluded proceedings using section 154 to levy additional interest. Writ petition was allowed. Case-Laws Income Tax Thu, 08 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758284