2006 (3) TMI 113

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....tioner is challenging exhibit P4 whereunder the Chief Commissioner of Income-tax declined the petitioner's request for waiver of interest levied under section 220(2) of the Income-tax Act, 1961 for the assessment year 1993-94. The petitioner is a Government company engaged in advance of loan, conducting kuries, etc. The petitioner claimed deduction of huge wage arrears paid to the employees for....

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....which entitled the petitioner to get deduction in the subsequent year and for refund for the year 1994-95 and right to request for adjustment of the refunds against demand for 1993-94, the petitioner did not choose to file the returns for 1994-95 immediately or within the 35 days' time available for payment of demand raised for the assessment year 1993-94. A belated return for 1994-95 was made on ....

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....d one of the conditions, i.e., co-operation with the Department, the petitioner has not established the other grounds, namely, that the payment of interest would cause genuine hardship to the assessee and that non-payment of tax demanded in time was under the circumstances beyond the control of the assessee. The assessee's counsel submitted that the Commissioner's observations are out of place bec....

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....1994-95 which itself would have avoided levy of interest of Rs. 2,25,799 under section 220(2) of the Act. Of course, out of the total payment of Rs. 1.5 crores, around Rs. 63 lakhs accounts for interest under sections 234B and 234C of the Income-tax Act. It is not known whether the petitioner applied for waiver of this interest and if it applied whether any relief is granted. In any case, in view ....