https://www.taxtmi.com/caselaws?id=350699 The court allowed the writ petition, quashed the impugned order, and granted a refund with adjustments for future assessments in a case involving the withdrawal of investment allowance under the Income Tax Act. The petitioner, a government-owned company, successfully demonstrated genuine financial hardship and lack of control over default, meeting the conditions for interest waiver under Section 220(2A) of the Act. Despite initial rejection by the second respondent, the court found in favor of the petitioner, emphasizing compliance with installment payments and financial difficulty arising from specific obligations. en-us Thu, 12 Oct 2017 00:00:00 +0530 Fri, 10 Nov 2017 10:24:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=350699 The court allowed the writ petition, quashed the impugned order, and granted a refund with adjustments for future assessments in a case involving the withdrawal of investment allowance under the Income Tax Act. The petitioner, a government-owned company, successfully demonstrated genuine financial hardship and lack of control over default, meeting the conditions for interest waiver under Section 220(2A) of the Act. Despite initial rejection by the second respondent, the court found in favor of the petitioner, emphasizing compliance with installment payments and financial difficulty arising from specific obligations. Case-Laws Income Tax Thu, 12 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=350699