2011 (3) TMI 386

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....EL, J.   1. This petition seeks quashing of order dated 6.5.2010, Annexure P-12, passed by the Commissioner of Income Tax under Section 264 of the Income Tax Act, 1961 (for short, "the Act").   2. Case of the petitioner is that during pendency of assessment proceedings for the assessment year 1983-84 under Section 143(3) of the Act, the petitioner vide letter dated 5.3.1986 surrend....

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....plied to the Commissioner for waiver of interest which was followed by a statutory revision under Section 264 of the Act, which was rejected on 12.11.1987. However, the said order was set aside by this Court vide order dated 17.9.2009 in C.W.P. No.1202 of 1988 M/s Jay Bee Industries v. CIT on the ground that the Commissioner had not passed a speaking order and a fresh order was directed to be pass....

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....he Rules, grounds for waiver of interest are: delay in assessment within the stipulated period for reasons not attributable to the assessee, if the assessee is an agent of any other person and is assessed upon the income of the principal, where the assessee has income from unregistered firm assessed under Section 183(b), where assessment is on large profits covered under proviso to Section 211 and....