2010 (10) TMI 8 - SUPREME COURT

Power of settlement commission to impose interest u/s 234A, 234B and 234C - applicability of section 154 before settlement commission - period for calculation of interest - Held that: - Sections 234A, 234B and 234C are applicable to the proceedings of the Settlement Commission under Chapter XIX-A of the Act - 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) - Settlement Commission cannot re-open its concluded proceedings by invoking section 154 of the Act so as to levy interest under section 234B, particularly, in view of section 245I