https://www.taxtmi.com/caselaws?id=13299 The court upheld the denial of waiver of interest under section 220(2) of the Income-tax Act for assessment year 1993-94 to a Government company. The petitioner's delay in filing the return for the subsequent year was deemed unjustified, as they could have avoided the interest by filing within the stipulated time. The court found that the petitioner had the capacity to pay the balance amount owed and rejected their argument of facing difficulties in raising funds within a short period. The petition was dismissed for lacking merit, with the petitioner advised to pursue the waiver application under other sections of the Income-tax Act separately. en-us Mon, 20 Mar 2006 00:00:00 +0530 Wed, 27 May 2009 18:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13299 The court upheld the denial of waiver of interest under section 220(2) of the Income-tax Act for assessment year 1993-94 to a Government company. The petitioner's delay in filing the return for the subsequent year was deemed unjustified, as they could have avoided the interest by filing within the stipulated time. The court found that the petitioner had the capacity to pay the balance amount owed and rejected their argument of facing difficulties in raising funds within a short period. The petition was dismissed for lacking merit, with the petitioner advised to pursue the waiver application under other sections of the Income-tax Act separately. Case-Laws Income Tax Mon, 20 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13299