https://www.taxtmi.com/caselaws?id=268809 The court upheld the Commissioner's decision to grant a partial waiver of interest by reducing it to 75% under Section 220(2A) of the Income Tax Act. Despite acknowledging genuine hardship faced by the petitioner, the court emphasized the need for finality in long-standing litigations, directing the petitioner to pay Rs. 75,000 towards interest to settle the matter conclusively. The judgment clarified the authority's discretion to reduce or waive interest based on the circumstances without being obligated to grant a complete waiver, considering the undue hardship that demanding the full interest amount would impose on the petitioner. en-us Tue, 24 Nov 2015 00:00:00 +0530 Wed, 02 Dec 2015 02:15:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268809 The court upheld the Commissioner's decision to grant a partial waiver of interest by reducing it to 75% under Section 220(2A) of the Income Tax Act. Despite acknowledging genuine hardship faced by the petitioner, the court emphasized the need for finality in long-standing litigations, directing the petitioner to pay Rs. 75,000 towards interest to settle the matter conclusively. The judgment clarified the authority's discretion to reduce or waive interest based on the circumstances without being obligated to grant a complete waiver, considering the undue hardship that demanding the full interest amount would impose on the petitioner. Case-Laws Income Tax Tue, 24 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268809