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2009 (9) TMI 58 - HC - Income TaxBlock Assessment waiver of interest levied u/s 158BFA payment of tax in installments held that - . From a perusal of Section 220(2A), it is clear that that section begins with a non obstante clause and is a self contained provisions. It overrides the charging provision as contained in section 220(2) but also restricts the power of the authority concerned to reduce or waive the amount of interest paid or payable by an assessee only if he is satisfied that the conditions as set out in the three clauses are satisfied CIT is bound to consider the petition, as to whether the petitioner fulfilled all the three conditions laid down under Section 220(2A) and record reasons as to how the petitioner is not entitled to the waiver of penal interest CIT directed to consider the claim of the assessee with regard to waiver of interest afresh and pass a considered order after giving sufficient opportunity to the petitioner in accordance with law
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