https://www.taxtmi.com/caselaws?id=373134 The court granted the petitioners' challenge to the denial of waiver of interest under Section 158 BFA (1) of the Income Tax Act, 1961 for the Block Period 1986-87 to 1996-97. The dispute stemmed from a search operation resulting in the seizure of gold and documents from the petitioners' premises. The delay in filing returns due to unavailability of seized documents led to the subsequent demand for interest under Section 154 of the Act. The court, after analyzing relevant provisions and case laws, decided to waive the interest and modified the impugned orders, directing the petitioners to calculate and pay interest for a specific period. en-us Thu, 22 Nov 2018 00:00:00 +0530 Mon, 07 Jan 2019 12:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=373134 The court granted the petitioners' challenge to the denial of waiver of interest under Section 158 BFA (1) of the Income Tax Act, 1961 for the Block Period 1986-87 to 1996-97. The dispute stemmed from a search operation resulting in the seizure of gold and documents from the petitioners' premises. The delay in filing returns due to unavailability of seized documents led to the subsequent demand for interest under Section 154 of the Act. The court, after analyzing relevant provisions and case laws, decided to waive the interest and modified the impugned orders, directing the petitioners to calculate and pay interest for a specific period. Case-Laws Income Tax Thu, 22 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=373134