https://www.taxtmi.com/caselaws?id=288096 The court upheld the decision of the learned single Judge to reduce the interest demanded under Section 234B of the Income Tax Act to 20%, waiving 80% of the interest payable. The reduction was attributed to a bona fide mistake leading to the delay in payment of capital gain tax by the assessee, who had invested in Government bonds for exemption. The court found no merit in the Revenue's appeal and dismissed it, affirming the lower court's well-considered order. en-us Fri, 01 Aug 2014 00:00:00 +0530 Wed, 20 May 2020 09:30:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288096 The court upheld the decision of the learned single Judge to reduce the interest demanded under Section 234B of the Income Tax Act to 20%, waiving 80% of the interest payable. The reduction was attributed to a bona fide mistake leading to the delay in payment of capital gain tax by the assessee, who had invested in Government bonds for exemption. The court found no merit in the Revenue's appeal and dismissed it, affirming the lower court's well-considered order. Case-Laws Income Tax Fri, 01 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288096