Punjab & Haryana HC directs to Waive Interest in Situations beyond Assessee’s Control in Timely Filing of Income Tax Returns [Read Order]
The bench observed that the provisions of imposing the interest is automatic, and if there is a default, interest is liable to be paid. However, in circumstances which are beyond the control of the assessee in filing of the return in time, the interest can be waived
The Punjab and Haryana High Court in a recent ruling held that interest for late filing of income tax returns can be waived in situations where the delay was beyond the control of assessee. Sant Lal and Ors, the assessee/petitioners submitted applications for settlement of their income tax and wealth tax under Section 245-C of…
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