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of <h1>Clarification on Interest Waiver u/ss 215/217 and Rule 40(1) for Delays Not Attributable to Taxpayers.</h1> The circular clarifies the application of interest waiver or reduction under Sections 215/217 and Rule 40(1) of the Income-tax Rules, 1962. It addresses issues arising from a previous circular, emphasizing that the waiver should not be limited to the date of assessment initiation if the delay is not attributable to the taxpayer. The decision on waiver should consider whether the delay beyond the first year is due to the taxpayer's actions. If not, the waiver should extend from the end of the first year to the assessment completion date. The circular also references a specific case to illustrate these principles.
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