| Case ID |
2c178841-4c42-4f1f-857a-c716cbb27908 |
| Body |
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| Case Number |
W.P. No. 9092 of 2011 |
| Decision Date |
Dec 10, 2010 |
| Hearing Date |
|
| Decision |
The Andhra Pradesh High Court dismissed the writ petition filed by Priya Aqua Farms seeking waiver of interest charged under sections 234B and 234C of the Income-tax Act for the assessment year 1999-2000. The Court held that the conditions laid down in the CBDT Circular dated June 26, 2006, were not satisfied in the case. The petitioner’s claim for deduction under section 80HHC was disallowed based on a Supreme Court decision that was pronounced after the petitioner had filed their return. The Court found no justification for interference with the order rejecting the waiver application, as the petitioner did not fall within the ambit of the circular. |
| Summary |
In the case of Priya Aqua Farms vs. Director General of Income Tax (Inv.), the Andhra Pradesh High Court examined the issue of waiver of interest charged under sections 234B and 234C of the Income-tax Act, 1961 for the assessment year 1999-2000. The petitioner, engaged in aqua farming, claimed a deduction under section 80HHC based on disclaimer certificates issued by export houses. However, the deduction was withdrawn during reassessment, and interest was charged due to short payment of advance tax. The Court ruled that the conditions for waiver outlined in the CBDT Circular dated June 26, 2006, were not met, as there was no High Court order stating that the income was not chargeable to tax. The decision emphasizes the importance of fulfilling statutory requirements for tax waivers, particularly in light of changes in legal interpretations. This case highlights critical tax law principles and the necessity for compliance with tax obligations, serving as a precedent for similar cases involving interest waivers under the Income-tax Act. |
| Court |
Andhra Pradesh High Court
|
| Entities Involved |
Priya Aqua Farms,
Director General of Income Tax (Inv.),
M/s. Adani Exports Ltd.,
M/s. Water Base Ltd.,
M/s. Vivil Exports Ltd.,
Silk Base Co. Ltd.
|
| Judges |
V.V.S. Rao,
Ramesh Ranganathan
|
| Lawyers |
K. Vasantkumar,
J.V. Prasad
|
| Petitioners |
Priya Aqua Farms
|
| Respondents |
Director General of Income Tax (Inv.)
|
| Citations |
2011 SLD 2683 = (2011) 335 ITR 428
|
| Other Citations |
IPCA Laboratory Ltd. v. Dy. CIT [2004] 266 ITR 521 (SC)
|
| Laws Involved |
Income-tax Act, 1961
|
| Sections |
234A,
234B,
234C,
80HHC,
147,
119(2)(a)
|