TMI Blog2022 (11) TMI 640X X X X Extracts X X X X X X X X Extracts X X X X ..... with interest on interest by the respondents under Section 220(2) of the Income Tax Act, 1961. A reading of the provision of the Income Tax Act, 1961, makes it very clear that non submission of returns and non-payment of tax in time, attracts penalty and interest. To be eligible for the benefit of waiver under Section 220(2A) of the Income Tax Act, 1961, the appellants have to satisfy the requirement of the said provision. The authority has rightly come to the conclusion that the appellants have not satisfied the requirement of Section 220(2A) - Therefore, the appellants are liable to pay the amount demanded by the Department. The appellants cannot blame the income tax department for the delay in refund of the amounts to the company o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s to the admitted income, the position may have been viewed differently. However, seeing that the tax demand in the present case arises entirely from admitted income and the order of has assessed and attained finality, there is no merit in these writ petitions. The impugned orders are confirmed and these writ petitions, dismissed. Connected writ miscellaneous petitions are closed. No costs. 2. According to the appellants, the Department has levied interest on interest and that they have sought for waiver of the said interest in terms of Section 220(2A) of the Income Tax Act, 1961. 3. The main contention of the appellants is that consequent upon the assessment, the appellants have paid the tax including penalty and interest as demand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nts. 7. There is no dispute on facts. The appellants are under an erroneous belief that they have been wrongly foisted with interest on interest by the respondents under Section 220(2) of the Income Tax Act, 1961. 8. A reading of the provision of the Income Tax Act, 1961, makes it very clear that non submission of returns and non-payment of tax in time, attracts penalty and interest. To be eligible for the benefit of waiver under Section 220(2A) of the Income Tax Act, 1961, the appellants have to satisfy the requirement of the said provision. 9. For the sake of convenience, Section 220(2A) is extracted below: (2A) Notwithstanding anything contained in sub-section (2), the Principal Chief Commissioner or Chief Commissioner or Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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