Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

No refusal of interest waiver application just because Co. challenged notice issued by dept. attaching Bank a/c

Where in response to notice issued under sec. 226(3), assessee approached High Court by filing a writ petition, it could not be a ground for refusal of waiver of interest under section 220(2) on ground that assessee failed to satisfy condition (iii) of section 220(2A) in as much as it had not cooperated with department

Refer:[2017] 88 218 (Madras)

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