2017 (11) TMI 1757

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.... K. John Mathai and Prathap G. Padickal , Advocates For the Repondents : P. K. R. Menon , Senior Advocate and Jose Joseph , Standing Counsel JUDGMENT A. MUHAMED MUSTAQUE J.- 1. This writ petition is filed by the assessee aggrieved by levying of interest consequent upon the order passed under section 154 of the Income-tax Act, 1961. For the assessment year 19881989, the assessee was all....

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....ith the order passed by the third respondent. Challenging the above orders, the petitioner approached this court. 3. Learned counsel for the petitioner, particularly pointing out the finding of the third respondent in exhibit P15, argued that the petitioner is entitled for waiver of interest in terms of rule 40 of the Income-tax Rules, 1962. Learned counsel drew my attention to the relevant par....

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....ecide whether waiver or reduction has to be granted. 5. 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 unde....