https://www.taxtmi.com/caselaws?id=219804 The court dismissed the writ petition challenging the rejection of a partnership firm's waiver application for interest under Income Tax Act Sections 234B and C. The firm's status change to an Association Of Persons led to higher taxable income, not meeting waiver conditions per a 1995 notification. The rejection aligned with legal precedents mandating interest payment, as the firm failed to satisfy specified waiver criteria. The court upheld the rejection, emphasizing adherence to Central Government guidelines, and denied interest waiver due to non-compliance with notification conditions. en-us Mon, 03 Dec 2012 00:00:00 +0530 Mon, 24 Dec 2012 18:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219804 The court dismissed the writ petition challenging the rejection of a partnership firm's waiver application for interest under Income Tax Act Sections 234B and C. The firm's status change to an Association Of Persons led to higher taxable income, not meeting waiver conditions per a 1995 notification. The rejection aligned with legal precedents mandating interest payment, as the firm failed to satisfy specified waiver criteria. The court upheld the rejection, emphasizing adherence to Central Government guidelines, and denied interest waiver due to non-compliance with notification conditions. Case-Laws Income Tax Mon, 03 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219804