https://www.taxtmi.com/caselaws?id=33035 Interest waiver under Sections 234A and 234B was rejected because the returns for earlier assessment years were filed only after notices under Section 148, so they were treated as not voluntary and the waiver conditions were not met. The Court also allowed a limited remand on the separate question whether compensation and interest income were to be apportioned among co-owners for computing the petitioner's liability. The Assessing Officer was directed to examine evidence on co-ownership and determine whether the interest income attached to compensation should be taxed wholly in the petitioner's hands or divided according to shares, with liability to be recomputed accordingly. en-us Tue, 03 Feb 2009 00:00:00 +0530 Sat, 05 Sep 2009 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33035 Interest waiver under Sections 234A and 234B was rejected because the returns for earlier assessment years were filed only after notices under Section 148, so they were treated as not voluntary and the waiver conditions were not met. The Court also allowed a limited remand on the separate question whether compensation and interest income were to be apportioned among co-owners for computing the petitioner's liability. The Assessing Officer was directed to examine evidence on co-ownership and determine whether the interest income attached to compensation should be taxed wholly in the petitioner's hands or divided according to shares, with liability to be recomputed accordingly. Case-Laws Income Tax Tue, 03 Feb 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33035