Friday 24 May 2013

While raising demand for sec. 220 interest, CIT to consider circumstances which may reduce or waive

IT : Existence of circumstances which may justify reduction or waiving off interest liability under section 220(2A) is a question of fact and where this aspect had not been discussed by Commissioner while raising demand for interest, impugned order was to be set aside and, matter was to be remanded back for disposal afresh


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