HC dismisses Actor Suriya’s plea to waive interest on income tax

R.S. Suriya Vs PCIT (Madras High Court) Learned counsel for the petitioner reiterated that mere possession of assests by the assessee cannot be a disqualification to consider the ground of genuine difficulty. Certainly, the learned counsel for the petitioner is right in saying so. However, the genuine difficulty as defined is the subjective satisfaction of the authority competent, which is to be established by the assessee. Therefore, there is no quarrel on the principles relied on. However, such principles must be applied with reference to the facts and circumstances established in the case o...