2012 (5) TMI 463

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..... after the Settlement Commission allows the application for settlement to be proceeded with, there will be no further charge of interest u/s 234B and that invocation of Section 154 of the Act cannot be justified. Therefore, order dated 31.03.2003 and the subsequent proceedings raising demand of interest are quashed - Decided in favor of assessee. - Civil Writ Petition No. 16731 of 2008 (O&M), 1674 .....

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..... the Act) and directed that interests under Section 234B and 234C of the Act will be charged strictly as per law. The question, whether the Settlement Commission can reopen its concluded proceedings by recourse to Section 154 of the Act, came up before the Hon'ble Supreme Court in case Brij Lal and others Vs. Commissioner of Income-Tax, (2010) 328 ITR 477, wherein while deciding question No.3, i .....

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