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2017 (8) TMI 128 - HC - Income TaxRevision u/s 264 in favor of assessee - Charging of interest u/s 220(2) - Waiver of interest u/s 220(2A) - Held that:- the petitioner has not only filed a Petition under Section 264 of the Act, but, it is under Section 220(2A) of the Act as well. Therefore, the first respondent could have very well treated the Petition, as a Petition for waiver under Section 220(2A) of the Act, as the Commissioner has been empowered to deal with such Petition by the Central Board. In fact, the petitioner has set out in the grounds of this Writ Petition, as to how, they failed to fulfill the parameters, required to be complied with under Section 220(2A) of the Act. Therefore, the first respondent should have considered the said Petition, by treating it as Petition under Section 220 (2A). Therefore, considering the factual situation, it is clear that the petitioner sought for waiver under Section 220 (2A) and it is not revision under Section 264 for revising the earlier order passed by the Assistant Commissioner or for that matter. Hence, this Court is of the view that the matter requires to be re-considered by the first respondent, by treating the Petition as purely a Petition under Section 220(2A) of the Income Tax Act. Writ Petition is allowed, the impugned order is set aside and the matter is remanded to the first respondent for fresh consideration, who shall consider the Petition filed by the petitioner, dated 23.01.1999, as purely a Petition under Section 220 (2A) of the Act and decided the same, in accordance with law. It is seen that, at the time, when the Writ Petition was entertained, order of interim stay was granted on 06.10.2003, subject to the condition that the petitioner pays 30% of the impugned demand towards interest under Section 220(2) of the Act
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