Interest u/s 234, 234B, 234C - waiver of interest where tax is paid
voluntarily - it is seen in the present case that the petitioner has paid
the tax voluntarily and has also pleaded a good and sufficient reason for
the non payment of tax on time. The fact of the death of petitioner's father
who was looking after the business, and as well as the petitioner's mother
and guardian was an house wife unfamiliar with such transactions, is not
denied by the respondent. On the contrary, he has given some logical
interpretation for overruling the claim made by the petitioner. - Held that.
The claim made by the petitioner is bona fide and genuine and the respondent
has not exercised his discretion in terms of law interest levied under
Sections 234A, 234B and 234C is set aside and it is declared that the
petitioner need not pay any interest for those two assessment years - At the
same time, if any excess amount had been paid, she is also not entitled to
seek refund of the same.