TMI Blog2016 (9) TMI 757X X X X Extracts X X X X X X X X Extracts X X X X ..... terminal date for charging interest will be the date on which the order under Section 245D (1) is passed i.e., the date on which the Settlement Commission entertains the application for settlement. By applying the said decision to the instant case, the appropriate date for charging interest would be 04.07.1997. Accordingly, the writ petition is allowed and the impugned order dated 03.02.2004 is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llenging the order passed by the Settlement Commissioner Additional Bench, Chennai dated 28.10.2002 for the Assessment Year 1995-96. The only issue to be decided is as to what would be the terminal date for charging interest under Section 234B of the Income Tax Act, 1961. 3. The facts in the instant case are as follows: The petitioner filed return of income for the relevant Assessment Year o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Hon'ble Supreme Court had remanded the matter for fresh consideration. At this stage, it has to be pointed out that the terminal date for charging of interest as per the order passed by the Settlement Commission dated 28.10.2002 was 14.11.1996 i.e., the date on which the intimation under Section 143 (1) (a) of the Act was given. The appeal filed by the Revenue as against the order of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in this writ petition. 4. The learned counsel on either side would submit that the dispute with regard to what would be the terminal date for charging interest in such case was put to rest by the Constitution Bench of the Hon'ble Supreme Court in Brij Lal and Ors. Vs. Commissioner of Income Tax reported in (2010) 328 ITR 477 wherein the Hon'ble Supreme Court held that the terminal da ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
