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2009 (5) TMI 34 - MADRAS HIGH COURTChief Commissioner dismissing the respondent’s petition for waiver of interest u/s 234-B – AO did not accept the claim of the assessee that the interest income from bank deposits should be assessed under the head 'business' - petitioner contend that respondent declined to exercise his power of discretion to grant waiver of interest arbitrarily by applying an irrelevant decision - notification 400/234/IT(B) dated 23.05.1996 issued by the CBDT u/s 119 empowers the Board to issue instructions and directions with regard to waiver of interest as claimed by assessee – there is no scope of interference in the order of the respondent, in respect of assessment years, 1993-94, 1994-95 and 1995-96 – but for A.Y. 1996-97 order of respondent is set aside
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