TMI Blog2020 (1) TMI 729X X X X Extracts X X X X X X X X Extracts X X X X ..... oners - HELD THAT:- Since the 1st respondent Settlement Commission is seized of the applications for rectification of mistake that the writ petitions were premature. These applications should be decided by the 1st respondent Settlement Commission. 2nd and 3rd respondents are directed to take steps to liquidate the fixed deposits which were also seized and to appropriate amount towards the balance of admitted tax liability and interest of the petitioners and file a report before the 1st respondent Settlement Commission within a period of 4 weeks from the date of receipt of a copy of this Order. The 1st respondent Settlement Commission shall thereafter dispose the applications filed for rectification of mistake by the petitioners within ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be proceeded. In these proceedings, the petitioners prayed for payment of the admitted tax liability in two installments which was also granted by the 1st Respondent Settlement Commission. The amounts were to be paid on 30.9.2000 and 31.12.2000 by the petitioners. Under these circumstances, by a communication dated 26.09.2000, a request was made to the 2nd respondent to adjust the seized cash and bank balance towards 1st installment. By another communication dated 19.12.2000, a similar request was made for adjustment of the additional tax amount from the balance. 5. The Administrative Officer of the 1st respondent Settlement Commission also sent in communication through the 3rd respondent on 23.02.2001 to m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he same should be paid within 35 days of receipt of the order as stipulated under section 245D (6A) of the Act. In the annexures appended to the order, there are calculations of interest payable under Section 245 D (2C) at 1.25% per month for some of the petitioners. 7. It is the contention of the petitioners that if the amounts were adjusted then and there as per the directions of the 1st respondent Settlement Commission and reported to the 1st Respondent Settlement Commission, the interest in Annexures would not have been payable by the petitioners. There appears to be some merit in the contention of the petitioners. At the same time, the fact remains that the petitioners have approached the Settlement Commission for rect ..... X X X X Extracts X X X X X X X X Extracts X X X X
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