Interest waiver for advance tax shortfall now allowed without requirement that judicial decisions be in the assessee's own case. The Board modifies its guidance on reduction or waiver of interest for advance tax shortfall by removing the requirements that the judicial decision be in the assessee's own case and that a retrospective amendment or judicial decision occur after the end of the relevant previous year; past petitions rejected for lack of this clarification are to be reconsidered in accordance with this modification and the earlier order.
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Provisions expressly mentioned in the judgment/order text.
Interest waiver for advance tax shortfall now allowed without requirement that judicial decisions be in the assessee's own case.
The Board modifies its guidance on reduction or waiver of interest for advance tax shortfall by removing the requirements that the judicial decision be in the assessee's own case and that a retrospective amendment or judicial decision occur after the end of the relevant previous year; past petitions rejected for lack of this clarification are to be reconsidered in accordance with this modification and the earlier order.
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