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2010 (1) TMI 113 - HC - Income TaxWaiver of interest under section 119(2), 234C– Advance tax – The appellant is a public limited company and they filed the return of income on December 31, 1990 for the assessment year 1990-91. The assessee filed an application before the Board and sought for waiver of interest. In this case Madras High Court-held that the order is liable to be set aside and the appeal is allowed. The matter is remitted back to the Chief Commissioner of Income-tax for fresh consideration of the application filed by the appellant-assessee regarding the waiver of interest for the assessment year 1990-91 and the Chief Commissioner of Income-tax is expected to dispose of the application as expeditiously as possible after the receipt of the copy of the order from the appellant. No costs.
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