Waiver of interest – Plea of ‘Bonafide mistake’ will help only if assessee is covered by prescribed circumstances

HIGH COURT OF KERALA Smt. Gills Benny Versus Chief Commissioner of Income-tax WP(C) Nos. 10214 & 10362 of 2005 October 17, 2012 JUDGMENT 1. Heard the learned counsel for the petitioners and also the learned Standing Counsel appearing for the respondents. 2. Petitioners in these cases own Poultry farms. On 4.1.2001, their premises were surveyed under Section 133A of the Income Tax Act, when it was found that they were not maintaining proper books of accounts. Subsequently, they filed returns for the assessment years 1998-99, 1999-00 and 2000-01 returning taxable income. Ass...