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Settlement Commission is a quasi-judicial body

Raj Kumar Makkad ,
  15 November 2010       Share Bookmark

Court :
Supreme Court of India
Brief :
Sections 154, 234 B Of Income Tax Act, 1961 - If Section 234B applies to proceedings of Settlement Commission under Chapter XIX-A of Act; what is the terminal point for levy of such interest
Citation :
Brij Lal and Ors. v. Commissioner of Income Tax, Jalandhar (Decided on 21.10.2010) MANU/SC/0878/2010

Expression "interest" in Section 245(6A) fastens liability to pay interest only when tax payable in pursuance of an order under Section 245D(4) is not paid within specified time and which levy is different from liability to pay interest under Section 234B or under Section 245D(2) - Consequent upon it, terminal point for levy of interest under Section 234B would be up to date of Order under Section 245D(1).

 
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Published in Taxation
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