JUDGMENT

Arijit Pasayat, J.

A question of seminal importance relating to the period for which interest in terms of Section 234-B of the Income-tax Act, 1961 (in short 'the Act') can be levied when the Settlement Commission (in short 'the Commission') passes an order under Section 245-D of the Act, is the subject matter of adjudication in these appeals. These appeals are directed against the common judgment of the Special Bench of the Commission (in Gulraj Engineering Construction Co. In re and others, (1995 (215) ITR ATS 1) which dealt with five situations where such questions may arise. The situations according to the Special Bench are as follows :

"(i) The income is determined under Section 143(1) but no regular assessment under Section 143(3) or 144 is made with or without there being a notice under Section 143(2) and/or Section 142 (1).

(ii) A regular assessment is made under Section 143(3) or Section 144 in addition to the determination of the income under Section 143 (1) and an appeal is pending before the first appellate authority.

(iii) Only a return of income is furnished without or in pursuance of a notice under Section 142 (1) or Section 148 and the income is neither determin