( 1 ) HEARD the learned counsel for the parties. ( 2 ) THE appellant shall pay Rs 10,000 as costs because of the delay of 247 days in filing these special leave petitions. ( 3 ) DELAY condoned. ( 4 ) LEAVE granted. ( 5 ) THIS appeal is filed against the judgment and order dated 20-9-1999 passed by the Income Tax Settlement Commission holding that for assessment Year 1993-94 waiver of interest chargeable under Section 234-B of the Income Tax Act is restricted to 50 per cent. It is the contention of the learned counsel for the appellant Revenue that the said order is illegal and erroneous, in view of the judgment rendered by this Court in CIT v. Anjum m. H. Ghaswala and also the decision rendered by this Court in CIT v. Hindustan Bulk Carriers on 17-12-2002. ( 6 ) AS against this, the learned Senior Counsel appearing on behalf of the respondents submitted that in the judgments rendered by this Court in ghaswala case as well as in Hindustan Bulk Carriers case the Court has not considered Explanation 1 under Section 234-B (l) of the Income Tax Act and, therefore, the said issue requires reconsideration. 286 ( 7 ) IN our view, after the pronouncement of the judgment in Ghaswala case it is not open to us to reconsider the same as it has been specifically held that the Settlement Commission has no power to waive mandatory interest as contemplated under Sections 234-A, 234-B and 234-C of the income Tax Act. ( 8 ) IN this view of the matter, these appeals are allowed and the impugned order passed by the Settlement Commission is set aside. It would be open to the Revenue to recover interest as provided under the Act. There shall be no order as to costs.