KESARIA TEA COMPANY LIMITED Vs. INCOME TAX OFFICER

JUDGEMENT

(1.) IN these original petitions, the challenge is against the order passed by the Commissioner of INcome-tax under Section 264 of the INcome-tax Act, 1961, for the years 1978-79 and 1979-80.

(2.) IT is exhibit P-4 in O.P. No. 1550 of 1981 dated February 4, 1981, Interest was levied for the above two years by the Income-tax Officer under Section 139(8) of the Income-tax Act and also under Section 215 of the Act. IT is common ground that the interest levied under Section 139 of the Act can be waived or reduced by the Income-tax Officer himself under Rule 117A of the Income-tax Rules, 1962, and the interest levied under Section 215 of the Act can also be waived or reduced under Rule 40 of the Income-tax Rules.

(3.) THE original petitions are disposed of with the above observations. THEre shall be no order as to costs.