2009 (12) TMI 576

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....gle judge holding that the respondent assessee who was granted waiver of interest under section 234A of the Income-tax Act, 1961 by the Chief Commissioner of Income-tax is entitled to waiver of interest payable under sections 234B and 234C as well on the same ground that is clause (e) in Notification No. 400/234/95/IT dated May 23, 1996. We have heard standing counsel appearing for the Department ....

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.... of books of account, clause (e) deals with other cases where parties were disabled from filing of returns for unavoidable reasons, may be party happens to be out of India, happens to be sick and laid up, etc. However, the finding of the learned single judge that clause (e) is a condition, satisfaction of which, entitles the assessee to claim waiver of interest under sections 234B and 234C of the ....

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....Rs. 38 lakhs was subjected to tax on capital gains. The tax demanded is Rs. 7,66,720 and the demand of interest under various provisions of section 234 is Rs. 4,72,174. The Chief Commissioner has already waived Rs. 2 lakhs payable under section 234A. Since the position of tax liability was not clear to the assessee, naturally there was non-payment of advance tax. We therefore feel some leniency is....