Waiver of interest u/s 234B & 234C in search cases where adjustment out of cash lying in the P.D.A/c is delayed for no fault of the assessee - Income Tax - F. No. 286/90/2008-IT(lnv. II)

F. No. 286/90/2008-IT(lnv. II) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Room No. 254, North Block New Delhi. the 25th September, 2008 To, All Director Generals of Income Tax (Inv./Intel.) All Chief Commissioners of Income Tax (Central) Sir/Madam. Sub : Waiver of interest u/s 234B 234C in search cases where adjustment out of cash lying in the P.D.A/c is delayed for no fault of the assessee - reg. Ref : Earlier letter no.286/90/2008-IT (Inv. II) dated 8th September, 2008 Kindly refer to the above. In this regard, I am directed to intimate that the Board s earlier order issued vide F. No. 400/234/93-IT (B) dated 23.05.1996 on the above mentioned subject had been superseded by fresh order vide F. No. 400/29/2002-IT(B) dated 26.06.2006. Therefore the Board s letter of even no, dated 8th September, 2008 reiterating the Board s order issued vide F. No. 400/234/93-IT(B) dated 23.05.1996 stands withdrawn w.e.f. 08.09.2008. Yours faithfully, (Aarsi Prasad) Under Secretary (Inv.II III.) Tel. 23092643