High Court Can Waive Interest in Tax Cases Under Article 226, Beyond CCIT's Authority Due to CBDT Rules.

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....Waiver of interest - Since the CCIT has no power to grant waiver of interest in the light of the specific instruction of the Central Board Of Direct Taxes, the Court in the exercise of its power under Article 226 of the Constitution of India can order waiver applying the legal principles applicable in the case of winding up of a company - HC....