https://www.taxtmi.com/caselaws?id=10210 The court ruled in favor of the petitioner, setting aside the orders rejecting the revision petition and refusing to waive the interest levied under section 234B of the Income-tax Act, 1961. The court held that the petitioner could not have anticipated the retrospective amendment making the income taxable and should not be penalized for it. The court directed the Chief Commissioner of Income-tax to entertain the petitioner's application for waiver of interest under section 234B as per the relevant notification, with instructions for a prompt decision. en-us Thu, 01 Jul 2004 00:00:00 +0530 Fri, 10 Jul 2009 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10210 The court ruled in favor of the petitioner, setting aside the orders rejecting the revision petition and refusing to waive the interest levied under section 234B of the Income-tax Act, 1961. The court held that the petitioner could not have anticipated the retrospective amendment making the income taxable and should not be penalized for it. The court directed the Chief Commissioner of Income-tax to entertain the petitioner's application for waiver of interest under section 234B as per the relevant notification, with instructions for a prompt decision. Case-Laws Income Tax Thu, 01 Jul 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10210