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A. Kuberan Kartha of V.V. Arumugam Chettiar [HUF] Versus The Chief Commissioner of Income Tax

2018 (1) TMI 514 - MADRAS HIGH COURT

Waiver of interest charged under Sections 234A, 234B and 234C - Held that:- The discretion conferred upon the respondent is clearly circumscribed and set out in paragraphs 2(a) to 2(d) of the Circular dated 26.06.2006. The right to claim waiver of the interest is not a statutory right given to the Assessee but based on the Circular and therefore, strict interpretation of the Circular has to be done. - Facts of the case clearly reveals that the petitioner does not fall under any of the Clause .....

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Mr.A.P.Srinivas, learned Special Government Pleader appearing on behalf of the respondent. 2.The writ petition has been filed by the assessee challenging an order passed by the respondent dated 15.04.2005 under Section 119 (2) (a) of the Income Tax Act 1961 [for short "the Act ]. This order has been passed based on the application filed by the petitioner dated 29.11.2001, requesting for waiver of interest charged under Sections 234A, 234B and 234C of the Act, amounting to ₹ 12.30 lakh .....

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sworn statement was recorded on 17.08.1990 and subsequently, the Assessing Officer issued notice under Section 148 of the Act on 19.08.1991. The Assessee did nothing thereafter, but it appears that after several notices were issued, the Assessee filed return on 07.01.1994 and subjected for assessment. In the background of the conduct of the Assessee it has to be seen as to whether the Assessee is entitled to the waiver of the statutory interest payable under Sections 234A, 234B and 234C of the .....

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Therefore, what is required to be seen is what is the scope and ambit of the circular dated 26.06.2006. A bare perusal of the Circular would show that the CBDT has delegated its power to the Chief Commissioner and / or the Director General of Income Tax to reduce or waive interest charged under Section 234A or under Section 234B or under Section 234C of the 1961 Act, in the classes of cases or classes of incomes specified in paragraph 2 of the said Circular. 11.3 The extent to which the said del .....

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