9911796707
TMI Blog1989 (5) TMI 39X X X X Extracts X X X X X X X X Extracts X X X X ..... sposed of by the Commissioner of Income-tax by the impugned order, exhibit P-3, passed on January 30, 1989. The prayer of the petitioner was for waiver of the interest levied under sections 139(8) and 217(1)(a) in its entirety. The petitioner, a cashew exporter, filed his return for the assessment year 1982-83 on January 17, 1983. It was one declaring a net loss, of Rs. 4,976. The business prem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the return filed was for an income of Rs. 1 lakh. Both the Income-tax Officer and the Appellate Assistant Commissioner had granted reduction in the payment-of interest. Such reduction went to the extent of about 50% of the amount. Understandably, the petitioner pursued his claim for further waiver of interest before the Commissioner. The question whether the conditions for waiver are satisfied d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... early indicated in the order of the Commissioner. An inference has been drawn by him. It cannot be said that the inference so drawn is perverse or unjustified. The substantial difference between the initial return or estimate and the subsequent return is one of the factors which could be looked into to decide whether the assessee deserves a beneficial treatment in relation to the waiver of interes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2 ITR 719 (Ker). The facts of that case are obviously distinguishable. The principles have been crystallised in a better form in the light of the experience of other courts and of this court, as is reflected from the decision in Alukkas' case [1989] 176 ITR 198 (Ker), referred to above and the case law alluded to in that decision. I am, therefore, not tempted to review the judgment in A lukkas' ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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