Dismissing the petition the court held that; Disclosure was made after the search action rejection of application for waiver of interest was held to be justified .Right to claim waiver of interest isnot a statutory right given to assessee but based on Circular No. 400/29/2002 and, therefore, strict interpretation of said circular has to be done.(AY. 1989-90 & 1990-91)
A. Kuberan v. CCIT (2018) 254 Taxman 189 (Mad.)(HC)
S. 234A : Interest – Default in furnishing return of income – Disclosure was made after the search action rejection of application for waiver of interest was held to be justified [ S.119, 132(4), 234B 234C ]