Waiver of 234abc interest
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2012
Is there any case law similar to the decision as laid down in T.P. Indrakumar vs. ITO in (2009) 29 DTR (Kar) 311 where it was held that levy of interest u/s 234A and 234B was not justified when an assessee voluntarily offers additional income to avoid further probe and to buy peace with the Department?
19 April 2012
No interest u/s 234A, B & C are mandatory and the A.O. has no power in not charging yes there are rules to get it wived as per income tax rules by the CIT or CCIT as the case may be
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