Order under section 119(2)(a) of the Income-tax Act, 1961 regarding Waiver of Interest under Sections 234A, 234B and 234C of the Income Tax Act, 1961.

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..... owers conferred under clause (a) of sub-section (2) of section 119 of Income-tax Act, 1961, Central Board of Direct Taxes, hereby directs that the Chief Commissioner of Income-tax and Director-General of Income-tax may reduce or waive interest charged under section 234A, or section 234 B or section 234C of the Act in the classes of cases or classes of income specified in paragraph 2 of this Order .....

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..... on 132 of the Income-tax Act, or otherwise, the books of account and other incriminating documents have been seized, and the assessee has been unable to furnish the return of income for the previous year, during which the action under section 132 has taken place, within the lime specified in this behalf, and the Chief Commissioner / Director-General is satisfied, having regard to the facts and cir .....

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..... on the basis of any order passed by the High Court within whose jurisdiction he is assessable to income-tax, and as a result, he did not pay income-tax in relation to such income in any previous year, and subsequently, in consequence of any retrospective amendment of law or the decision of the Supreme court of India, or as the case may be, a decision of a larger Bench of the jurisdictional High C .....

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..... aiver of interest charged under section 234A of the Income Tax Act. 4. Earlier Orders under section 119(2)(a) dated 23.5.1996 and 30.1.1997 on the subject stand superseded by this Order. If any petition in the past has been rejected because the Board had not issued this direction earlier, such petition may be reconsidered and decided in accordance with this Order. If any petition in the past was .....

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