https://www.taxtmi.com/caselaws?id=39650 The court addressed multiple issues regarding demands for interest payable by the assessee under the Income-tax Act, 1961. It held that the settlement between the Commissioner and the assessee did not exempt the assessee from interest payments as it was not specifically addressed in the agreement. The court affirmed the jurisdiction of the Commissioner to consider interest liabilities, emphasizing that the settlement focusing on income and penalty did not waive the statutory obligation to pay interest. The court also clarified that the Commissioner's order under section 264 was judicial and maintainable, ultimately dismissing the petitions and upholding the obligation to pay interest under the Act. en-us Thu, 02 Aug 1973 00:00:00 +0530 Mon, 19 Apr 2010 14:14:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39650 The court addressed multiple issues regarding demands for interest payable by the assessee under the Income-tax Act, 1961. It held that the settlement between the Commissioner and the assessee did not exempt the assessee from interest payments as it was not specifically addressed in the agreement. The court affirmed the jurisdiction of the Commissioner to consider interest liabilities, emphasizing that the settlement focusing on income and penalty did not waive the statutory obligation to pay interest. The court also clarified that the Commissioner's order under section 264 was judicial and maintainable, ultimately dismissing the petitions and upholding the obligation to pay interest under the Act. Case-Laws Income Tax Thu, 02 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39650