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IN THE HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
P.SAM KOSHY, SUDDALA CHALAPATHI RAO
Kwatra Builders, Rep. By Its Managing Partner, Sri Ramesh C. Kwatra – Appellant
Versus
Chief Commissioner Of Income Tax – Respondent
| Table of Content |
|---|
| 1. details of reassessment proceedings. (Para 3 , 4 , 5 , 6) |
| 2. arguments in favor of waiver from petitioners. (Para 7 , 9 , 10 , 11) |
| 3. counterarguments from the income tax department. (Para 12 , 14 , 15) |
| 4. identifies key issue on waiver entitlement. (Para 17 , 18) |
| 5. reasoning against petitioners' claims. (Para 20 , 21) |
| 6. final order dismissing the writ petition. (Para 23 , 24 , 25) |
ORDER :
P.Sam Koshy, J.
1. Heard Ms. Anjali Agarwal, learned counsel for the petitioners; and Ms. B. Swapna Reddy, learned Senior Standing Counsel for Income Tax Department appearing on behalf of the respondents.
2. The instant writ petition under Article 226 of the Constitution of India has been filed by the petitioner assailing the order dated 29.03.2007, in Proceeding F.NO.CC/Tech-I/40(2103)/05-06, passed by respondent No.1 as illegal, unjustified, and contrary to the guidelines given by the CBDT in Circular No.400/29/2002-IT (B), dated 26.06.2006.
3. The facts of the case are that the petitioners were subjected to reassessment proceedings under Section 147 of the Income Tax Act, 1961 (for short ‘the Act’) for the assessment year 1992-1993 on 08.05.2002, for the assessment years 1993-1994 a
A party's financial hardship does not justify a waiver of statutory interest under the Income Tax Act, which demands adherence to specific CBDT criteria for such waivers.
The court established that old age and illiteracy are significant factors for considering waiver of interest under the Income Tax Act, emphasizing the need for fair assessment in tax matters.
The court emphasized the necessity for a reasoned order addressing all material contentions raised by the petitioner, particularly regarding the impact of the COVID-19 pandemic on estimating income f....
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