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2012 (10) TMI 610 - KERALA HIGH COURTApplication for waiver of interest u/s 220(2) - Deduction under Section 80HHC denied - Held that:- The first condition of genuine hardship has not been proved by the petitioner. The assessee had cash balance, amounts due from the debtors, amount due towards export incentives and also substantial assets. Even if the assets of assessee are eschewed, he is seen to possess other resources which disproves his claim of genuine hardship - against assessee.
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