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2011 (1) TMI 1173 - HC - Income TaxWaiver of interest - outstanding demand of interest charged under Sections 234B and 234C of the Income Tax Act, 1961 - Held that:- discretion has been exercised by the Commissioner to waive the interest to be payable by the petitioner. But, It is a case of detection wherein the petitioner is said to have not assessed the income he was getting from the money lending business. According to the petitioner, the income was unanticipated. However, without giving a finding on the issue whether the source of income had been accrued then and there or it is a future income on the money lending business, the impugned order passed at Annexure-B by the Chief Commissioner of Income Tax appears to be vague in rejecting the case of the petitioner declining to exercise his discretion, it is for the petitioner to approach the Board under Section 119 of the IT Act or else, to pay the interest as ordered. Accordingly, the petitions are disposed of
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