TMI Blog2010 (4) TMI 1204X X X X Extracts X X X X X X X X Extracts X X X X ..... . Heard the submissions made by the learned Counsel appearing for the Petitioner and the learned standing counsel appearing for the Respondents. 2. The Petitioner prays a direction to the third Respondent to waive the interest levied under Section 220(2) of the Income Tax Act, 1961, for the block assessment years 1987-88 to 1997-98, as per the settlement dated 29-7-1997 between the Petiti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent, having evaluated the background of the case which culminated in charging interest under Section 220(2) of the Income Tax Act, 1961 passed the impugned order saying that none of the conditions as adumbrated under Section 220(2A) of the Income Tax Act did exist in the case on hand. Consequently, the petition seeking waiver of interest was rejected. The representation made by the Assessee prayin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Petitioner/Assessee was subjected to search on 4-7-1996. The Petitioner came out with some offer and the department also having accepted the offer communicated the acceptance of the offer vide letter No. F. No. 1150/2A-11/1997-98, dated 29-7-1997, thereby the Petitioner/Assessee and the department have entered into an agreement. 10. In terms of the aforesaid settlement arrived at between ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the payment of such amount has caused or would cause genuine hardship to the Assessee, that the default in the payment of amount was due to certain circumstances beyond the control of the Assessee and that the Assessee has co-operated in the enquiry relating to the assessment or any proceeding relating to the recovery of amount due from him as per Section 220(2A) of the Income Tax Act, 1961. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of 1987-88 to 1997-98. 15. In the above circumstances the impugned order passed under Section 220(2A) of the Income Tax Act, 1961 by the third Respondent is quashed and consequently the third Respondent is directed to waive the interest levied under Section 220(2) of the Income Tax Act, 1961 for the block assessment years 1987-88 to 1997-98. The writ petition is allowed. There is no order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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