2001 (5) TMI 22 - HC - Income Tax

Summary

The High Court of Delhi ruled on a case involving waiver of interest under section 234C of the Income-tax Act, 1961 for the assessment year 1999-2000. The petitioner's claim for waiver was based on unexpected profits in the fourth quarter due to share trading activities. The Commissioner granted a 50% waiver but was criticized for not providing full relief. The court directed a fresh consideration of the matter, setting aside the previous order.