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2015 (3) TMI 538 - BOMBAY HIGH COURT

2015 (3) TMI 538 - BOMBAY HIGH COURT - TMI - Recourse to rectification proceedings u/s 154 by Settlement Commission - levy interest under Section 234A, 234B and 234C - Held that:- The Larger Bench of the Apex Court in Brijlal and Ors Vs. CIT reported in [2010 (10) TMI 8 - SUPREME COURT ] has now resolved the controversy and held that the Settlement Commission has no power to reopen a proceedings concluded by a final order under Section 245D(4) of the Act by invoking Section 154 of the Act. Thus .....

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s passed by the Settlement Commission seeking to rectify the orders passed under Section 245D(4) of the Income Tax Act, 1961 (the 'Act') by invoking the provisions of Section 154 of the Act. This application for rectification was allowed so as to levy interest under Sections 234A, 234B and 234C of the Act, which has been waived by order passed under Section 254D(4) of the Act earlier. 2. The Writ Petition No. 1423/2005 was admitted on 5 April 2005 and at that time a direction was passed .....

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