1989 (5) TMI 39

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....e Income-tax Act, 1961, has been disposed of by the Commissioner of Income-tax by the impugned order, exhibit P-3, passed on January 30, 1989. The prayer of the petitioner was for waiver of the interest levied under sections 139(8) and 217(1)(a) in its entirety. The petitioner, a cashew exporter, filed his return for the assessment year 1982-83 on January 17, 1983. It was one declaring a net....

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.... income estimated for advance tax was nil, the return filed was for an income of Rs. 1 lakh. Both the Income-tax Officer and the Appellate Assistant Commissioner had granted reduction in the payment-of interest. Such reduction went to the extent of about 50% of the amount. Understandably, the petitioner pursued his claim for further waiver of interest before the Commissioner. The question wh....

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....the Constitution. The basic facts have been clearly indicated in the order of the Commissioner. An inference has been drawn by him. It cannot be said that the inference so drawn is perverse or unjustified. The substantial difference between the initial return or estimate and the subsequent return is one of the factors which could be looked into to decide whether the assessee deserves a benefici....