TMI Blog2015 (1) TMI 425X X X X Extracts X X X X X X X X Extracts X X X X ..... irm, one has since expired and the other is presently convalescing in a hospital after undergoing a surgery to treat a brain hemorrhage. It is also pointed out that there are several financial claims raised against the petitioner firm from various quarters, which are also in various stages of adjudication before the authorities concerned. In that view of the matter, I feel that it would be necessary for the 1st respondent to reconsider the matter regarding levy of interest under Section 220(2) of the IT Act in the case of the petitioner, taking into account the peculiar circumstances in this case - Matter remanded back - Decided partly in favour of assesse. - WP(C).No. 7031 of 2010 - - - Dated:- 19-12-2014 - MR. A.K.JAYASANKARAN NAMBIAR, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ement has been filed on behalf of the respondents wherein the orders impugned in the writ petition are sought to be justified for the reasons contained therein. It is pointed out that in the exercise of the discretion vested in the 1st respondent, in terms of the IT Act, the 1st respondent is not to be fettered by the guidelines issued in the matter of exercise of discretion, by the Central Board of Direct Taxes. It is stated that even if an assessee in any particular case shows the conditions prescribed in the guidelines to exist, it is not necessary for the 1st respondent to automatically grant a waiver of the interest which is statutorily levied. 3. I have heard Sri.Mayankutty Mather, the learned counsel appearing on behalf of the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the claim of the petitioner with regard to the three conditions expressly mentioned in Section 220(2A) of the IT Act, namely, (i) whether the payment of the amount has caused genuine hardship to the assessee; (ii) whether the default in payment of the amount on which interest has been paid or was payable was due to circumstances beyond the control of the assessee and (iii) whether the assessee had co-operated with the enquiry relating to the assessment or any proceedings due to the recovery of any amount due from him, he did not have the occasion to consider certain aspects which are now brought to my notice by the learned counsel for the petitioner. The financial condition of the petitioner is stated to be precarious, and, further, it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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