2018 (7) TMI 1483

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.... E. K. Nandakumar And Sri. Anil D. Nair For The Respondent : Sri. P. K. R. Menon, SR. Counsel, Sri. Jose Joseph, SC And Sri. George K. George, SC JUDGMENT The petitioner is a Government of Kerala undertaking. It impugn an order passed by the Chief Commissioner of Income Tax rejecting claim for waiver or reduction of interest charged under Section 234B of the Income Tax Act, 1961. Exhibit ....

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....ank of India as per the direction of the Board for Industrial and Financial Reconstruction ("BIFR" for short). It is appropriate to refer the relevant portion of the direction issued by the BIFR in this regard, as evident from Exhibit-P2, which reads as follows: "12. The Board has given the further following directions:- i) SBI (OA) should keep the sale proceeds in an interest be....

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....r of Income Tax. However, the petitioner's claim for waiver of interest under Section 234B was rejected. This is how the petitioner approached this Court. 3. As seen from Exhibit-P3 impugned order, the claim of the petitioner for reduction of interest was not considered on merits for the simple reason that according to Chief Commissioner of Income Tax, the petitioner's case is not refer....