https://www.taxtmi.com/caselaws?id=391524 The court dismissed the writ petitions challenging the rejection of waiver of interest under Section 12-A of the Interest Tax Act, 1974 for Assessment Years 1992-93 to 1998-99. The petitioner's argument based on Circulars issued by the Central Board of Direct Taxes was rejected as the court found that provisions allowing waiver under the Income Tax Act did not apply to the Interest Tax Act. The court emphasized that the Circulars lacked statutory backing for waiver of interest under the Interest Tax Act, leading to the dismissal of the petitions without costs awarded. en-us Fri, 03 Jan 2020 00:00:00 +0530 Fri, 31 Jan 2020 10:38:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391524 The court dismissed the writ petitions challenging the rejection of waiver of interest under Section 12-A of the Interest Tax Act, 1974 for Assessment Years 1992-93 to 1998-99. The petitioner's argument based on Circulars issued by the Central Board of Direct Taxes was rejected as the court found that provisions allowing waiver under the Income Tax Act did not apply to the Interest Tax Act. The court emphasized that the Circulars lacked statutory backing for waiver of interest under the Interest Tax Act, leading to the dismissal of the petitions without costs awarded. Case-Laws Income Tax Fri, 03 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391524