Interest charging obligations require full interest be levied unless statutory waiver applies; any waiver must be recorded in assessment orders. Full interest must be charged where statutory provisions make interest payable for delayed returns, insufficient advance-tax, failure to furnish prescribed estimates, or non-payment of tax demand, and any waiver or reduction is permissible only under the specified rules or provisos and must be recorded in the main body of the assessment order to show the omission was intentional and authorised.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest charging obligations require full interest be levied unless statutory waiver applies; any waiver must be recorded in assessment orders.
Full interest must be charged where statutory provisions make interest payable for delayed returns, insufficient advance-tax, failure to furnish prescribed estimates, or non-payment of tax demand, and any waiver or reduction is permissible only under the specified rules or provisos and must be recorded in the main body of the assessment order to show the omission was intentional and authorised.
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