https://www.taxtmi.com/circulars?id=68399 Amendment imposes simple interest at one percent per month on additional tax where an application is filed under the settlement regime, calculated from the first day of April of the relevant assessment year until the date of application, and on any increase in disclosed income following a Settlement Commission order from the same commencement point until the date of the order; the amendment applies to cases pending before the Commission on its commencement, while waiver of interest for earlier cases is an administrative decision and the central board cannot direct the Commission as it is not an income-tax authority for that purpose. en-us Mon, 28 Mar 2016 00:00:00 +0530 Wed, 02 Apr 2025 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=68399 Amendment imposes simple interest at one percent per month on additional tax where an application is filed under the settlement regime, calculated from the first day of April of the relevant assessment year until the date of application, and on any increase in disclosed income following a Settlement Commission order from the same commencement point until the date of the order; the amendment applies to cases pending before the Commission on its commencement, while waiver of interest for earlier cases is an administrative decision and the central board cannot direct the Commission as it is not an income-tax authority for that purpose. Circulars Income Tax Mon, 28 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/circulars?id=68399