2014 (10) TMI 892

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....Anuradha JUDGMENT N. Kumar, J. 1. The Revenue preferred this writ appeal against the order dated March 11, 2013 (UB Global Corporation Ltd. v. Chief CIT [2013] 355 ITR 87 (Karn)), passed by the learned single judge extending the benefit of the Board Circular, in particular, clause 2(c) in the case of the assessee and granting relief to him for waiver of interest payable under section 234B of th....

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....s may be applicable to any assessee, would be a circumstance for reduction or waiver of interest under sections 234A to 234C, as the case may be." 3. In coming to that conclusion, he has relied on the decision of the Kerala High Court in A. V. Thomas and Co. Ltd. [1997] 225 ITR 29 (Ker) which was followed by the Tribunal in granting relief to the assessee under section 80HHC of the Act. Now, the ....

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.... the exemption notifications and the Board circulars, which are issued from time to time would bind the Revenue to the fullest extent but those notifications and the circulars have to be strictly construed. If so construed, the Board circular categorically states at clause 2(c) that, where any income was not chargeable to Income-tax in the case of an assessee on the basis of any order passed by th....

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....lief to the assessee. As is clear from the aforesaid clause, if any order is passed on the basis of any order passed by the High Court within whose jurisdiction the assessee is not assessable to income- tax, then the benefit of the circular is not available to the assessee. The said circular is carefully worded making it clear that it is only when a judgment of the High Court within whose jurisdic....