Tax Management India.Com

Home Page

Home List
← Previous Next →

2015 (11) TMI 808

Waiver of interest under Sections 234B and 234C - Held that:- As decided in UB Global Corporation Limited Vs. Chief Commissioner of Income Tax [2013 (5) TMI 126 - KARNATAKA HIGH COURT] the decision of incidence and applicability of Income Tax under the Act, need not necessarily be in the case of the assessee, but could be in any other case i.e. of any other assessee or otherwise. As long as the decision covers the field of Income Tax legislation, as may be applicable to any assessee, 'would be a .....

X X X X X X X

Full Contents

X X X X X X X

ersus Chief Commissioner of Income-tax And Others [2002 (9) TMI 99 - DELHI High Court - Income Tax]. - Decided in favour of assessee. - WP. Nos. 18103 and 18148 of 2003, WPMP. Nos. 22585 and 22639/2003 - Dated:- 27-10-2015 - R. Mahadevan, J. For the Appellant : Mr. Subbaraya Aiyar Padmanabhan For the Respondent : Mr. T Pramodkumar Chopda, SC ORDER These Writ Petitions are filed to issue a Writ of Certiorarified Mandamus to call for the records of the Respondent in F.No.2006 (130) 2000-2001, to q .....

X X X X X X X

Full Contents

X X X X X X X

also sent a reply dated 27.5.1999 and claimed deduction under Section 80 JJ of the said Act, which was rejected on the ground that the assessee did not claim relief in the returns filed, in view of the decision of the Honourable Supreme Court reported in 237-ITR-174 (CIT Vs. Shri Venkateswara Hatcheries P Limited), which was rendered on 24.3.1999 reversing the earlier judgement of the Andhra Pradesh High Court reported in 174-ITR-231. Accordingly, the Assessing Officer levied interest under Sec .....

X X X X X X X

Full Contents

X X X X X X X

the High Court whose order has been reversed by the Honourable Supreme Court, can claim waiver of interest and that during the relevant accounting period, there was no contra judgement and later, on the basis of the decision of the Honourable Supreme Court, the Petitioner was subjected to higher tax and that the liability which arose subsequently was beyond the control of the Petitioner and hence, the Petitioner could not be penalized. 4. The learned Standing Counsel for the Respondent submitted .....

X X X X X X X

Full Contents

X X X X X X X

cted the Petitioner to send objections to the show cause notice. The Petitioner also sent a reply dated 27.5.1999 and claimed deduction under Section 80 JJ. However, the Assessing Officer levied interest under Sections 234B and 234C, against which Petitioner filed a waiver petition to the Respondent, which was rejected by the impugned order. 7. The issue of waiver of interest has been settled in a catena of decisions of various High Courts as well as the Honourable Supreme Court. 8. In similar c .....

X X X X X X X

Full Contents

X X X X X X X

in the circumstances, interest charged under section 234Bof the Act should be waived partly under clause (d) of the Circular No. F.No.400/234/95-IT(B) dated 23/5/1996 reported in (1997) 225 ITR (Statute) 101. The reason about non-availability of a judgement of jurisdictional high court cannot be termed to be a valid reason in the facts of the case, considering that the amendment, though by Finance Act, 1990, was made retrospectively applicable from 1-4-1967." 10. In 2004-188-CTR-Guj-449 (B .....

X X X X X X X

Full Contents

X X X X X X X

rcumstances would also qualify to be considered as unavoidable circumstances responsible for the delay in late payment of taxes." 11. In 258-2002-ITR-751 (Sita Holiday Resorts Limited Vs. Chief Commissioner of Income Tax and others), the Delhi High Court has held as under:- "However, in order to mitigate the hardships in deserving cases, the Board, in exercise of powers conferred under clause (a) of sub-section (2) of Section 119 of the Act, has issued a Circular/Notification No. 400/2 .....

X X X X X X X

Full Contents

X X X X X X X

 

 

← Previous Next →