2000 (11) TMI 14 - HC - Income Tax

Summary

The High Court of Madras dismissed a petition seeking waiver of penal interest for late submission of income tax returns. The petitioner failed to provide valid reasons for the delay, and the Chief Commissioner found that the conditions for waiver were not satisfied. Simply filing the return voluntarily and paying tax does not automatically qualify for waiver. The petition was dismissed, and no costs were awarded.