2012 (7) TMI 207

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..... INCOME TAX   J U D G M E N T   Ramachandran Nair, J. Heard Shri.Arun Raj, learned counsel for the appellant and also learned Standing Counsel appearing for the respondents.   2. Return filed was processed by the Assessing Officer under Section 143(1)(a) of the Income Tax Act (hereinafter referred to as the Act for short), which resulted in reduction in the claim of export profit .....

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..... under Section 143(1)(a) of the Act. Consequent upon the reduction in the export profit demand went up leading to levy of interest under Sections 234B & 234C of the Act. Common revision was filed challenging part disallowance of deduction of export profit and levy of interest before the Commissioner, who dismissed the revision. Appellant's claim before the lower authorities and before the learned S .....

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..... d any merit in the challenge against the revised demand of tax. So far as interest demanded is concerned, it is rather automatic though the appellant has a right to apply for waiver. The appellant is always free to apply for waiver, and if he has not filed application for waiver, he can still file it if it is maintainable. This Writ Appeal is disposed of as above.  
Case laws, Decisions, .....

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