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2013 (5) TMI 126 - HC - Income TaxWaiver of Interest U/s 234-B - Extended benefit of deduction U/s 80HHC of the Income-tax Act, 1961 - Held that:- A division bench of the High Court of Gujarat in Bhaneben’s case (2004 (3) TMI 35 - GUJARAT High Court) regard being had to the facts obtaining therein over delay in filing the return of income resulting in late payment of taxes, an unavoidable circumstance - Waiver of interest can be considered. As regards extending the benefit of waiver of interest under Section 234B, learned counsel for Revenue submits that in Bhanuben’s case (2004 (3) TMI 35 - GUJARAT High Court), the Division Bench of High Court of Gujarat extended the relief upto 75% and directed the assessee to pay 25% of the interest levied - Petitioner having made out a case for consideration over reduction or waiver of interest under Sec. 234B of the act, the Chief Commissioner of Income Tax was not justified in rejecting the claim by the orders impugned, on the premise that the petitioner an assessee not within the jurisdiction of High Court of Kerala was disentitled to rely upon the decision of that court in A.V. Thomas’ case ( 1997 (1) TMI 60 - KERALA High Court). Petition is allowed in part - The orders Annexures-D and J of the Chief Commissioner of Income Tax, Bangalore are quashed and the petitioner is directed to pay 25% of the interest levied under Section 234B of the Act for the assessment year 2001-02.
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