https://www.taxtmi.com/caselaws?id=211309 The court upheld the rectification made under Section 154 of the Income Tax Act, emphasizing the importance of adhering to specified criteria for entitlement to waiver or reduction of interest. The decision emphasized the discretionary nature of such powers and the need for strict adherence to conditions outlined in notifications for granting waivers. The rectification was deemed necessary to correct an error in interpreting the terms of the notification and reverse the process due to the assessee being ineligible for the waiver. en-us Fri, 23 Dec 2011 00:00:00 +0530 Fri, 02 Mar 2012 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211309 The court upheld the rectification made under Section 154 of the Income Tax Act, emphasizing the importance of adhering to specified criteria for entitlement to waiver or reduction of interest. The decision emphasized the discretionary nature of such powers and the need for strict adherence to conditions outlined in notifications for granting waivers. The rectification was deemed necessary to correct an error in interpreting the terms of the notification and reverse the process due to the assessee being ineligible for the waiver. Case-Laws Income Tax Fri, 23 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211309