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2012 (4) TMI 348 - HC - Income TaxWaiver/ Refund of interest u/s 234A and 234B - Advance Tax - revenue denied the waiver - power u/s 119 - held that:- The first respondent has arrived at a conclusion that the assessee could have fairly and accurately anticipated the income pertaining to financial year 2007-08. The Commissioner has arrived at a conclusion that the majority of expenditure, as mentioned in the tabular chart below paragraph 5, is definite and ascertainable. The said expenditure has actually been incurred within the same year. The assessee maintains computerized books of accounts and they could have made provisions for anticipated expenditure in accordance with the accepted accounting principles. In these circumstances, and when the ultimate conclusion in paragraphs 7 and 8 of the impugned order cannot be said to be either irrational or arbitrary or vitiated to such an extent that no reasonable person would arrive at the same in the given facts and circumstances, that we are unable to interfere with the impugned order in writ jurisdiction. - Decided against the assessee.
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