Income Tax Interest Waiver Application – Law applicable on application date to be applied

CCIT Vs Van Oord ACZ Marine Contractors BV (Madras High Court) HC held that In the present case, the appellant had the right to apply for waiver of the interest charged under Section 234A or Section 234B, or Section 234C as per the notification F.no 400/234/95-IT(B), dated 23-05-1996 by invoking clause 2 (e) which empowered an assessee to apply for waiver, when the return could not be filed for “unavoidable reasons”, when the application was filed in 2003. Once the applicant was found eligible to apply on the date of application, his application cannot be thrown out as not maintainable bec...