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2017 (11) TMI 1757 - HC - Income TaxLevying of interest u/s 215 - advance tax - entitlement for waiver of interest - discretion to the authority to decide whether waiver or reduction has to be granted - Held that:- The authorities having exercised their discretion with relevant material, it is beyond the scope of this court to sit upon their wisdom. It is to be noted that rule 40 is only an enabling provision and the assessee cannot as a matter of right claim waiver of interest or reduction. The guidelines as referred to under rule 40 have to be understood in the mandate of levying of interest under section 215 of the Income-tax Act. Therefore, merely because there is an observation that delay cannot be attributed to the assessee itself, that will not result in waiver of interest. Taking note of the over all facts involved, the authority had given 50 per cent. of reduction of interest. - Petition dismissed.
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