2014 (11) TMI 1181 - SCH - Income Tax

Waiver interest under Sections 234A, 234B and 234C - Settlement Commission directed that interest under Sections 234A and 234C, wherever applicable was to be charged as per law and interest chargeable under Section 234B would be charged upto the date of order passed under Section 245D(1) and that interest under Section 220(2), applicable on the sustained demand outstanding as on various dates would be charged upto the date of the order passed by the Settlement Commission - Held that - The learned counsel for the petitioners seeks leave to withdraw this Special Leave Petition so as to approach the Income Tax Settlement Commission for an appropriate remedy. Permission is granted with the above liberty. The Special Leave Petition is, accordingly, disposed of as withdrawn.

Summary

The Supreme Court of India allowed the petitioner to withdraw the Special Leave Petition to approach the Income Tax Settlement Commission for a remedy. Permission was granted for withdrawal.