https://www.taxtmi.com/caselaws?id=36159 The court disallowed the interest claim under Section 220(2) of the Income Tax Act, 1961, due to mismanagement by the official liquidator, leading to financial difficulties for the company. The court directed the Income Tax authorities to condone the interest payment for the relevant assessment years. The decision aimed to protect the contributories from bearing the burden of the official liquidator's actions and internal disputes within the company. en-us Wed, 16 Apr 1980 00:00:00 +0530 Fri, 19 Mar 2010 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36159 The court disallowed the interest claim under Section 220(2) of the Income Tax Act, 1961, due to mismanagement by the official liquidator, leading to financial difficulties for the company. The court directed the Income Tax authorities to condone the interest payment for the relevant assessment years. The decision aimed to protect the contributories from bearing the burden of the official liquidator's actions and internal disputes within the company. Case-Laws Income Tax Wed, 16 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36159