https://www.taxtmi.com/circulars?id=9115 Interest under sections 215 and 217 may be reduced or waived under Rule 40; Income-tax Officers can act under sub-rules (1)-(4) and Inspecting Assistant Commissioners under sub-rule (5). Board amended Office Manual guidance so Income-tax Officers refer waiver proposals under sub-rules (1)-(4) to the Inspecting Assistant Commissioner only when interest exceeds Rs.1,000, and the Inspecting Assistant Commissioner need not refer cases to the Commissioner where he approves a proposal or exercises his discretion. en-us Tue, 27 Sep 1977 00:00:00 +0530 Thu, 02 Jun 2011 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9115 Interest under sections 215 and 217 may be reduced or waived under Rule 40; Income-tax Officers can act under sub-rules (1)-(4) and Inspecting Assistant Commissioners under sub-rule (5). Board amended Office Manual guidance so Income-tax Officers refer waiver proposals under sub-rules (1)-(4) to the Inspecting Assistant Commissioner only when interest exceeds Rs.1,000, and the Inspecting Assistant Commissioner need not refer cases to the Commissioner where he approves a proposal or exercises his discretion. Circulars Income Tax Tue, 27 Sep 1977 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9115