https://www.taxtmi.com/caselaws?id=761519 The HC quashed the order dated 15.07.2002 rejecting petitioner's waiver of interest under Sections 234-B and 234-C for assessment years 1996-97, 1997-98, and 1998-99. The rejection was based on SC judgment in Assam Cooperative Apex Marketing Society Limited case requiring advance tax payment, which was subsequently overruled. The court held that cooperative societies are exempted from tax payment under Section 80(P)(2)(a)(iii), therefore no advance tax deposit was required. The petitioner society was entitled to claim interest waiver for the specified period. Appeal allowed. en-us Wed, 06 Nov 2024 00:00:00 +0530 Mon, 11 Nov 2024 13:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761519 The HC quashed the order dated 15.07.2002 rejecting petitioner's waiver of interest under Sections 234-B and 234-C for assessment years 1996-97, 1997-98, and 1998-99. The rejection was based on SC judgment in Assam Cooperative Apex Marketing Society Limited case requiring advance tax payment, which was subsequently overruled. The court held that cooperative societies are exempted from tax payment under Section 80(P)(2)(a)(iii), therefore no advance tax deposit was required. The petitioner society was entitled to claim interest waiver for the specified period. Appeal allowed. Case-Laws Income Tax Wed, 06 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761519