9911796707
TMI Blog2011 (11) TMI 447X X X X Extracts X X X X X X X X Extracts X X X X ..... d an assessment under section 158BC was made on the petitioner for the block period 1991-92 to 2000-01 determining an income of Rs. 74,27,844/-. The application filed by the petitioner before the Settlement Commission also having been rejected, the petitioner withdrew all statutory proceedings and paid the taxes due in instalments. Subsequently, the Assessing Officer issued a demand notice charging interest under section 220(2A) amounting to Rs. 5,73,704/-. The petitioner approached the Commissioner of Income Tax for waiver of the said interest under Section 220(2A) of the Act detailing his hardship and pointing out the fact that the default in payment of amount was not attributable to him and that he has cooperated in the enquiry as provid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... recovery of materials evidencing suppression that the block assessment was taken up. On the facts and also the suppression detected in the case of the petitioner makes him further ineligible for any waiver under Section 220(2A), asserts the Revenue. 5. The Commissioner of Income tax under Section 220 (2A) is conferred with the authority to waive or reduce the amount of interest paid or payable by the assessee on the satisfaction of the three conditions enumerated in the said provision. The conditions necessary for consideration of waiver are that the assessee has or would have had genuine hardship in the payment of such interest. Obviously, even if payments are made the hardship in making such payment would entitle him for being considered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tioner are for the years in which the block assessment was resorted to by the assessing officer on the allegation of suppression detected on inspection. The balance sheet for the years in which block assessment was made on the ground of suppression, in my opinion, is not relevant for considering hardship of the petitioner under Section 220(2A). Evidently, as has been detected, the assessee had suppressed substantial income during the said periods, leading to block assessment for the period as also subsequent levy of interest. In addition to this the Commissioner had found that the assessee has sufficient immovable properties, the details of which were recovered during the search conducted. True, it has been held by this Court and the Suprem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deration for waiver of interest. In the event of any of the conditions not being satisfied, the assessee would not be entitled to be considered for any waiver. In the facts and circumstances of the instant case I am of the opinion that the Commissioner's finding that the hardship projected by the assessee is not genuine and that the default in payment can only be attributable to the assessee is perfectly valid. The assessee not having satisfied the conditions in Section 220(2A), the Commissioner was correct in denying the benefit of waiver to the petitioner. The Commissioner in entering the said finding has considered the points in a judicious manner and the same cannot be faulted and hence warrants no interference. The writ petition accor ..... X X X X Extracts X X X X X X X X Extracts X X X X
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