Interest u/s 234a

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2014 What is the remedial measure for waiving of interest u/s 234A. Whether we need to file any revision petition for waiver of interestto Commissioner

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 September 2014 Generally waiver is not possible since levy is mandatory as per law. But if the conditions laid down in circular 783 dated 18.11.1999, along with the two orders of the board referred therein, are satisfied, petition for waiver can be moved before the CCIT.