2019 (3) TMI 1269

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....3.2019 filed by the petitioner, under Section 220(2A) of the Income Tax, 1961. 2. It is the case of the petitioner that, while they were doing Aqua culture business, there was some default in payment of tax for the assessment years 1992-1993, 1993-1994 and 1994-1995. Subsequently, the entire tax liability was paid in installments, between 05.02.2019 to 25.02.2019. It is their case that the tax could not be paid earlier, due to closure of Shrimp Farms, by order of the Hon'ble Supreme Court of India in the year 1996. Due to the default in payment of the tax for the assessment years 1992-1993, 1993-1994 and 1994-1995, the respondent has brought the petitioner's property being vacant plots of land measuring 126 acres 28 cents of land....

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....plication under Section 220 (2A) of the Income Tax Act on 05.03.2009, seeking waiver of interest before the Principal Commissioner of Income Tax, Trivandrum. According to the petitioner, till date the said application seeking for waiver of interest has not been considered by the Principal Commissioner of Income Tax, Trivandrum. But, without waiting for the outcome of the waiver of interest application, the respondent is proceeding with the sale of the petitioner's property as per the impugned proclamation of sale, dated 20.02.2019. 5. In such circumstances, the instant writ petition has been filed challenging the proclamation of sale, dated 20.02.2019, issued by the respondent. 6. Heard Mr.B.Dhanaraj, learned counsel appearing for....

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....ay, 2017.] 8. As evident from the records place before this Court, it is clear that the petitioner has paid the entire tax liability of Rs. 53,78,316/-. The only point for consideration is whether the petitioner is liable to pay a sum of Rs. 1,32,93,493/- as interest as per the respondent's demand letter, dated 08.02.2019. 9. According to the petitioner's company, they are entitled for waiver in view of the closure of their business pursuant to orders passed by the Hon'ble Supreme Court as well as due to the appeal filed by the Department in respect of depreciation. 10. The Discretionary power for waiver of interest is available to the Principal Commissioner of Income Tax under Section 220 (2A) of the Income Tax Act, 19....