Allowing the appeal of the revenue against the single Judge in a Writ petition filed by the assessee against the order of Settlement Commission ; the Court held that ; (i) that the Settlement Commission had rightly found that a later decision of the Supreme Court which declared the correct legal position rendered an order passed earlier erroneous. The interest under section\u00a0234B\u00a0was to be charged up to the date of order under section\u00a0245D(4)\u00a0. The order of the Settlement Commission that the assessee would be entitled to waiver of interest leviable under section\u00a0234A\u00a0, that there was no case for waiver of interest leviable under section\u00a0234B\u00a0and that such interest should be charged up to the date of the order of the Settlement Commission under section\u00a0245D(4)\u00a0did not warrant interference, more so, in view of the remand by the Supreme Court. There was no infirmity in the order of the Settlement Commission which called for interference.<\/p>\n
(ii) That the Settlement Commission had the power to rectify an order. The powers under section\u00a0154\u00a0could be exercised by the Settlement Commission in addition to those specifically provided under Chapter IX-A. Section\u00a0245F(1)\u00a0conferred on the Settlement Commission all the powers which were vested in an authority. The power of the Commission to rectify an apparent mistake under section\u00a0154\u00a0included wide power to amend the order, which had the effect of enhancing an assessment or increasing the liability of the assessee.( AY. 1992-93 to 1995-96)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 245D : Settlement Commission – No power to waive tax or interest which are statutorily payable \u2014Settlement Commission is vested with power to rectify mistake \u2014Interest is payable up to date of o0rder of Settlement Commission.[ S. 154, 234A,234B, 245D(4), 245F(1) ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2534","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-ES","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2534","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2534"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2534\/revisions"}],"predecessor-version":[{"id":5273,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2534\/revisions\/5273"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2534"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2534"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2534"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}