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2015 (2) TMI 855 - CALCUTTA HIGH COURTLevy of interest under section 234B - terminal point for the levy of interest - Whether would be up to the date of the order u/s 245D[1] or up to the date of the order of settlement u/s 245D[4]? - tribunal went to the extent of saying that the judgment in Brij Lal [2010 (10) TMI 8 - SUPREME COURT] was obiter dicta Held that:- In our opinion to term the decision of the Supreme Court as obiter dicta and deciding not to follow it was gross misdemeanor on the part of the Commission. The order of the Special Bench of the Commission and that of the additional Bench, Kolkata Are quashed and set aside.The Settlement Commission (Income Tax & Wealth Tax), Additional Bench, Kolkata is directed to pass an appropriate order on the basis of this order following Brij Lal reported in [SUPRA ] wherein held the terminal point for the levy of interest under section 234B would be up to the date of the order under section 245D[1] and not up to the date of the order of settlement under section 245D[4] - Decided in favour of assessee.
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