https://www.taxtmi.com/caselaws?id=382916 The court dismissed the petition challenging the rejection of the petitioner's application for waiver of income tax under a scheme by the Board for Industrial and Financial Reconstruction (BIFR). The court held that the scheme did not bind the Income Tax Department to grant the tax concessions as the Department had not consented to such waivers. The court emphasized that the term "to consider" in the scheme indicated discretionary authority rather than a mandatory directive, and without the Department's consent, the scheme's provisions were not enforceable. en-us Tue, 09 Jul 2019 00:00:00 +0530 Wed, 19 Aug 2020 15:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382916 The court dismissed the petition challenging the rejection of the petitioner's application for waiver of income tax under a scheme by the Board for Industrial and Financial Reconstruction (BIFR). The court held that the scheme did not bind the Income Tax Department to grant the tax concessions as the Department had not consented to such waivers. The court emphasized that the term "to consider" in the scheme indicated discretionary authority rather than a mandatory directive, and without the Department's consent, the scheme's provisions were not enforceable. Case-Laws Income Tax Tue, 09 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382916