TaxTMI 
TaxTMI 
1998 (9) TMI 51
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....etitioner was rejected by the Commissioner vide impugned order, annexure F on the ground that the insertion of sub-section (2A) has no retrospective effect in view of the decision reported in the case of Saurashtra Agencies Pvt. Ltd. v. Union of India [1990] 186 ITR 634 (Cal). Counsel for the petitioner submits that the amendment in section 31 by the insertion of sub-section (2A) has retrospective effect and the assessment years for which the interest has been charged are covered by this amendment. Therefore, interest may be waived. Counsel for the respondent submits that whether the amendment by the insertion of sub-section (2A) in section 31 has retrospective effect or not his been considered by this court in a judgment referred to abo....
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....under section 220(2A) of the Income-tax Act. No evidence has been produced before me to show that payment of tax would cause genuine hardship and the payment of tax was beyond the control of the petitioner-assessee. At internal page 2 of annexure I of the application it has been submitted before the Commissioner that for waiver of interest the petitioner has given some figures regarding the den-land raised which reads as under : "8. That the details of recovery proceedings by the Tax Recovery Officer-II is as under for wealth-tax assessment as far as available to the present trustee and sebayeet : ------------------------------------------------------------------------------------------------ Sl. Asse....
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....p; 959 3. 1958-59 855/II(I)/80-81 914 4. 1960-61 853/II(I)/80-81 2,175 5. 1959-60 854/II(I)/80-81  ....
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....nbsp; 4,555 + int. 11. 1973-74 437/II(I)/83-84 7,761 2,231 + int. 12. 1972-73 440/II(I)/83-84 5,696 2,196 + int. 13. 1970-71  ....
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....---------------------------------------- 1. 1977-78 (i) 21-4-1987 25,000 29,500 (ii) 27-5-1987 4,500 2. 1976-77 (i) 29-6-1987 &....
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....bsp; ------ 55, 759 " --------------------------------------------------------------------------- If we look into the above figures they will clearly show that the petitioner has not furnished the complete facts regarding the demand raised of the tax payable from the year 1957 onwards, nor has the pet....