2006 (2) TMI 139

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....issioner of Income-tax has rejected the petitioner's application for waiver of interest levied under section 220(2) of the Income-tax Act, 1961 for belated payment of income-tax for the assessment year 1985-86. Counsel contended that the petitioner's income was mainly from a partnership firm in the form of bar hotel. According to the petitioner, the firm's assessment was revised which led to re....

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.... claim under section 220(2) of the Income-tax Act, should consider the matter independently, and the decision should be rendered through a speaking order. On going through exhibit P-7, I find the Chief Commissioner has not gone by any opinion of any lower authority. On the other hand, he has collected the facts pertaining to the petitioner from the assessment records through the Assessing Officer ....