Settlement Commission cannot re-open its concluded proceedings by invoking section 154 to levy interest

CIT Vs M.A. Jacob & Company (Madras High Court) The order passed on the Settlement Applications filed by the assessee is dated 07.01.2000. The second order of ITSC was passed on 19.02.2004. After those orders passed by ITSC on the issue in question, concerning the assessee, in the year 2010, the Honourable Supreme Court had an occasion to deal with the said issue in the case of Brij Lal & Others Vs. CIT, Jalandhar [CDJ 2010 SC 9681. Another Constitution Bench also dealt with the issue and rendered its decision on 18.10.2011 in the case of CIT Vs. Anjum M.H.Ghaswala [20011 119 Taxmann 3...