HC directs chief CIT to waive off sec. 234C interest as taxpayer had made genuine estimation of inco

IT : Where Assessing Officer charged interest under section 234C from assessee on plea that during year advance tax paid was less and assessee filed application for waiver of interest stating that it had paid advance tax on basis of anticipated current income during first quarter of year and there was no contemplation that its current income would exceed income for previous assessment year, it was fit case for exercise of discretion by Chief Commissioner under clause 2(b) of notification dated 2