TMI Blog2007 (2) TMI 211X X X X Extracts X X X X X X X X Extracts X X X X ..... Haridas was its managing partner. With a view to avail of the benefit of the Voluntary Disclosure of Income Scheme, 1997, the managing partner, Haridas, made declaration on March 31, 1997. But, he fell ill and he was diagnosed with brain cancer. He became bedridden and died on February 20, 1998. In that melee, the tax could not be paid by the petitioner. The second respondent issued a notice un ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... epartment without taking into account the unavoidable circumstances, levied interest which is erroneous, illegal and against law. Concededly, the petitioner has paid the tax as demanded by the Department after reassessment. Originally, the petitioner sought to avail of the benefit of the Voluntary Disclosure of Income Scheme, 1997, but when the tax was demanded under the said scheme, it is conte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . No. 400/234/95/IT(B) dated May 23, 1996, as found in the counter affidavit, shows that the Chief Commissioner, the first respondent herein, can waive or reduce interest, if he is satisfied that it is a fit case to do so on the facts and circumstances. That apart, the petitioner has produced a copy of the notification in F. No. 400/29/2002/IT(B), dated June 26, 2006, which supersedes the earlier ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x Act and paid tax accepting the reassessment. We, therefore, hold that the first respondent is not correct in rejecting the claim of the petitioner for waiver of interest without properly appreciating the facts and circumstances of the case. Accordingly, the impugned order is liable to be set aside. Considering the fact that twelve years have passed, the earliest assessment year being 1994-95 and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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