M GANESAN Vs. VICE CHAIRMAN THE SETTLEMENT COMMISSION

JUDGEMENT

(1.) THE writ petition is against the order of the Settlement Commission dated 16. 7. 2002, rejecting the plea for waiver of interest chargeable under Sections 234-A, 234-B and 234-C, relating to the assessment years 1989-90 to 1996-97, on the view that the conditions stipulated in the notification of the Central Board of Direct Taxes (C. B. D. T.) dated 23. 5. 1996 were not attracted.

(2.) THE petitioner preferred an application before the Settlement Commission under Section 245-C of the Income Tax Act. The case was processed and ultimately, the Settlement Commission passed an order on 16. 7. 2002, fixing the total income at Rs. 27,75,783/ -. On the question of payment of interest chargeable under Sections 139 (8), 215 and 217 of the Income Tax Act for the 1986-87, 1987-88 and 1988-89, the Settlement Commission waived 50% of the interest, taking note of the circumstances under Rules 117-A and 40 of the Income Tax Rules. However, for the assessment years 1989-90 to 1996-97, the Settlement Commission rejected the plea on the ground that the order of the C. B. D. T. dated 23. 5. 1996 were not attracted.

(3.) THE grievance of the petitioner in this writ petition is that the Settlement Commission's rejection of the plea of waiver for the assessment years 1989-90 to 1996-97 as well as restricting the waiver to 50% of the interest under Sections 139 (8), 215 and 217 relating to the assessment years 1986-87 to 1988-89 are totally contrary to the Board's order as well as the Rules.