https://www.taxtmi.com/caselaws?id=431001 The Supreme Court upheld the rejection of the petitioner's application for waiver of interest under Section 220(2A) of the Income Tax Act, 1961. The Court emphasized that raising a dispute does not automatically exempt an assessee from interest payment, stating that the levy of simple interest on non-payment of tax is mandatory. The Court dismissed the Special Leave Petition, affirming the importance of adhering to statutory provisions and clarifying that ongoing disputes do not absolve the obligation to pay interest as mandated by the Act. en-us Wed, 02 Nov 2022 00:00:00 +0530 Tue, 09 Jun 2026 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431001 The Supreme Court upheld the rejection of the petitioner's application for waiver of interest under Section 220(2A) of the Income Tax Act, 1961. The Court emphasized that raising a dispute does not automatically exempt an assessee from interest payment, stating that the levy of simple interest on non-payment of tax is mandatory. The Court dismissed the Special Leave Petition, affirming the importance of adhering to statutory provisions and clarifying that ongoing disputes do not absolve the obligation to pay interest as mandated by the Act. Case-Laws Income Tax Wed, 02 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431001