Waiver of the tax, etc.,

An applicant shall be entitled to,-

1. (i) 50 (fifty percent) waiver of all the disputed taxes which are not yet collected as on 31st March, 2001; and
2. (ii) 90 (ninety percent) waiver of interest or penalties raised under any provisions of the relevant Act which were due as on 31st March, 2001; if the payment of fifty percent of the disputed taxes as on 31st March, 2001 is made during the period from 1st August, 2001 to 30th September, 2001.