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2017 (9) TMI 1529 - HC - Income TaxApplications for grant of waiver of the interest, levied under Section 234 (B) & (C) - certain subsequent developments, which have taken place during the pendency of the Writ Petitions - Held that:- If there is any reduction in the tax liability, obviously, it will also impact the quantum of interest, which is to be levied. Therefore, it would be appropriate to remand the matter back to the respondent for fresh consideration and take note of the subsequent developments in the matter, and take a fresh decision. In pure and simple terms, the petitioner's case is that, they were not in a position to anticipate whether they will be assessable under Section 115-JA /115 JB. An endeavour was required in this regard as a finding of fact had to be recorded while either accepting or rejecting the application for waiver. However, in the instant case, the Authority appears to have been solely guided by the decision, which was relied upon by the petitioner, and had taken a stand that the decision rendered by the Karnataka High Court, being a decision not by the territorial High Court, cannot be made applicable to the facts of the petitioner's case. Writ Petitions are allowed and the impugned orders are set aside and the matters are remanded to the respondent for fresh consideration.
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