https://www.taxtmi.com/caselaws?id=11158 The High Court of Gujarat, in a judgment by A.R. Dave J., ruled in favor of the petitioners in a case challenging interest charges under section 234A of the Income-tax Act, 1961. The court held that the petitioners were entitled to an interest waiver due to search and seizure operations affecting their ability to file returns timely. The court found that the Chief Commissioner had the authority to waive penal interest under Circular No. 400/234/95-IT(B) in such circumstances. The impugned orders rejecting interest waiver requests were quashed, and the Assessing Officer was directed to recalculate interest payable, with excess amounts to be refunded to the petitioners. en-us Fri, 21 Nov 2003 00:00:00 +0530 Sat, 01 Aug 2009 09:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11158 The High Court of Gujarat, in a judgment by A.R. Dave J., ruled in favor of the petitioners in a case challenging interest charges under section 234A of the Income-tax Act, 1961. The court held that the petitioners were entitled to an interest waiver due to search and seizure operations affecting their ability to file returns timely. The court found that the Chief Commissioner had the authority to waive penal interest under Circular No. 400/234/95-IT(B) in such circumstances. The impugned orders rejecting interest waiver requests were quashed, and the Assessing Officer was directed to recalculate interest payable, with excess amounts to be refunded to the petitioners. Case-Laws Income Tax Fri, 21 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11158