Assessee moved application for waiver of interests levied u/s. 234A, 234B and 234C of the Act. Petition for waiver of interests was rejected. On writ the Court held that the delay caused in filing the return if to be attributed to the impounding of the documents during survey proceedings, the interest under S. 234A of the Act for the default committed in filing the return of income would be waived of, but not the interest leviable under S. 234B and 234C, the default in payment of advance tax and for deferment of advance tax. (AY. 2009-10-2010-11)
Shankarlal Jain v. CCIT (2020) 185 DTR 220 / 312 CTR 296/ 273 Taxman 477 (Karn.)(HC)
S. 234A : Interest-Default in furnishing return of income-Waiver of interest–Or otherwise–Delay in filing of return was due to impounding of documents in the course of survey.[S. 234B, 234C, Art. 226]