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TMI Blog2001 (3) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... waiver of interest, under section 220(2A) of the Income-tax Act, 1961, for the assessment years 1979-80, 1980-81 and 1981-82 was rejected. The order of the Commissioner is a very elaborate order. Counsel for the assessee contended that for the assessment years in question, it was necessary to compute the extent of relief available under section 80J and as that section has been amended with retr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the assessee would have to face a very grave situation if the relief granted in the earlier years was to be withdrawn with retrospective effect. It was further observed that : "If the relief granted is now permitted to be withdrawn with retrospective operation, the assessee may be found guilty of violation of the provisions of other statutes and may be visited with penal consequences." The m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w under which the assessment had been made. The assessee went to the Commissioner seeking waiver. An objection, for waiver presumes that the liability exists, that it is capable of being enforced and that what is being sought is a relief against the enforcement of that liability. Section 220(2A) which had been invoked by the assessee, does not require or permit an enquiry into the validity of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to make the payment as he has found that the assessee had earned substantial profits, even though for some years it had incurred loss and that there would be no difficulty in paying the amount of interest. He has also found that the default committed by the assessee could not be said to be due to circumstances beyond its control. The conclusions recorded by the Commissioner are supported by the fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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