TMI Blog2005 (8) TMI 37X X X X Extracts X X X X X X X X Extracts X X X X ..... remitted to the third respondent for fresh consideration - - - - - Dated:- 10-8-2005 - Judge(s) : KURIAN JOSEPH. JUDGMENT Kurian Joseph J. - The issue raised in this writ petition pertains to the request made by the petitioner for waiver of interest under section 220(2A) of the Income-tax Act, 1961. The assessment year is 1988-89. Exhibit P1 is the assessment order. After adjustments the net liability towards interest is Rs. 1,27,772. The petitioner filed exhibit P7 application under section 220(2A) for waiver of interest. The same was rejected as per exhibit P8. The said order passed by the Commissioner is under challenge in the writ petition. Sri Balachandran, learned senior counsel appearing for the petitioner, submits that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rated with the enquiry relating to the assessment/proceedings for recovery. The Commissioner has found in exhibit P8 that of the three conditions only the third one was satisfied; the petitioner co-operated with the enquiry/proceedings. According to the Commissioner the default in payment of the" tax amount which led to the levy of interest was not fully due to circumstances beyond the control of the assessee and that the payment of interest would not cause any genuine hardship. Referring to the accounts from 1992 to 1994 the Commissioner has observed that during the said period there was excess payment made by the petitioner and remaining with the Department to be adjusted and after such adjustment the liability was only Rs. 2,50,000 and i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... severe or grave, the same need not be genuine. The stress is more on the background and conduct and not on the quantum. Whether the non-payment of the tax is due to circumstances beyond the control of the assessee and whether the payment of interest would cause genuine hardship have to be analysed and appreciated taking into account various other factors also, some of which are indicated above, regarding the accumulated loss, liability to other statutory bodies, the conduct of the parties, the nature of the transaction, the financial position, etc. It is the contention of learned senior counsel that the Commissioner gets jurisdiction to look into the matter only if all the three conditions are satisfied. Reliance is placed on various dec ..... X X X X Extracts X X X X X X X X Extracts X X X X
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