1992 (2) TMI 32

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.... to quash exhibit P-3 order of the Commissioner of Income-tax, Cochin, to the extent to which it relates to the rejection of the application for waiver of interest levied under section 220(2) of the Income-tax Act, 1961. This petition arose under the following circumstances ; The petitioner is an assessee under the Income-tax Act, 1961. For the assessment year 1979-80, a return was filed claimi....

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....al disallowed the petitioner's claim. Consequent to the first appellate order, the first respondent levied, among other things, interest of Rs. 2,76,472 under section 220(2) of the Income-tax Act. Besides that, there is also levy of interest under section 215. An application was filed before the first respondent for waiver of interest under section 215 which was partly allowed. The second responde....

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.... section 220 if he is satisfied that (1) payment of such amount has caused or would cause genuine hardship to the assessee, (2) default in the payment of the amount on which interest has been paid or payable under the said sub-section was due to circumstances beyond the control of the assessee, and (3) the assessee has co-operated in any enquiry relating to the assessment or in the proceeding for ....

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.... as to whether genuine hardship will be caused to the assessee. It is stated in the order that the assessee is earning very good income from its business and that this does not appear to be a case where the payment of interest caused undue hardship to the assessee. The Commissioner has, therefore, considered the relevant aspects while passing the impugned order. The discretion vested in the Commis....