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A. Pounraj Versus The Income Tax Settlement Commission, The Union of India, The Commissioner of Income Tax, The Assistant Commissioner of Income Tax

2016 (9) TMI 862 - MADRAS HIGH COURT

Terminal date from which interest got charged - Settlement Commission - Held that:- Identical issue was raised before this court in R.Vijayalakshmi vs. Income Tax Settlement Commission Additional Bench and others [2016 (8) TMI 657 - MADRAS HIGH COURT] and ultimately it was held that the Department will be entitled for interest only as ordered by the Commission while passing the order under section 245D (4) of the Income Tax Act. - Writ petition is allowed and the order passed by the Income .....

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.M.Swaminathan, SC ORDER Heard Mr.R.Kumar, learned counsel appearing for the petitioner and Mr.M.Swaminathan, learned Standing Counsel, appearing for respondent department. 2. The petitioner seeks for issuance of Writ of Certiorari to quash the order passed by the Income Tax Settlement Commission, Additional Bench, Chennai, dated 21.03.2003. In fact, the challenge to the order is not in entirety, but only with regard to the terminal date from which interest got charged. 3. The learned Counsel fo .....

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Income Tax Act. It would be beneficial to refer the operative portion of the order: ...After hearing the learned counsel for the parties and perusing the materials placed on record, the first issue to be answered is with regard to the power of the Commission to reopen its proceedings. Section 245-I of the Act states that any order of the Commission passed under Section 245 shall be conclusive as to the matters stated therein and no matter covered by such order shall, save as otherwise provided i .....

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n. Sub section (1) of Section 245(F) which states that Settlement Commission shall have all powers which are vested in Income Tax Authority under the Act cannot be read in isolation but it should be read in tandem with Section 245(I) and if it is done, then it is to be held that there is no power of review conferred on the Commission to reopen the proceedings. This position held the field till an amendment was inserted under Section 6(b) of Section 245D by Finance Act 2011 with effect from 01.06 .....

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Smt.U.Narayanamma, Writ Petitions are filed challenging the orders passed by the Settlement Commission on the ground that the Commission has no power to rectify its earlier order even under Section 245D of the Income Tax Act, 1961. The Hon'ble Division Bench of the Andhra Pradesh High Court after taking into consideration the decision of the Hon'ble Supreme Court in Brij Lal, held that the order passed by the Settlement Commission rectifying its earlier order cannot be sustained and mus .....

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ne more observation that is required to be made in the instant case is that the Revenue while rectification/recalling of the order passed by the Commission, referred to a decision of the Hon'ble Supreme Court in the case of Hindustan Bulk Carriers and Damani Bros, with respect to the terminal date for charging of interest under Section 234B. Admittedly, these decision were rendered by the Hon'ble Supreme Court much after the final order was passed by the Commission under Section 245D(4). .....

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