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TMI Blog2010 (1) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... to pay interest under section I58BFA(1)(a) - Even if the Commission may be able to waive the interest, if so provided under a particular circular, such power cannot be exercised by any other authority in the matter dealt with by the Commission. We, thus, do not find any infirmity with the view taken by the Chief Commissioner in rejecting the application of the assessee. - 259 of 2010 - - - Dated: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ment Commission. The Commission disposed of the matter under section 245D(4) of the Act on December 12, 2003. As regards interest it was held that the assessee will be liable to pay interest under section I58BFA(1)(a) of the Act. The assessee filed an application for waiver of interest before the Chief Commissioner of Income-tax relying upon a circular issued by the Central Board of Direct Taxes d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ling with the provisions of section 273A of the Act for waiver of penalty, it was observed that even if liability to pay was not disputed, the waiver was permissible. Similar observations have been made in the judgment of the Bombay High Court in B. R. Sound-N-Music v.O. P. Bhardwaj [1998] 173 ITR 433. Reliance has also been placed on the judgment of the hon'b]e Supreme Court in CIT v. Anjum ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Commission expressly directs levy of interest. Even if the Commission may be able to waive the interest, if so provided under a particular circular, such power cannot be exercised by any other authority in the matter dealt with by the Commission. We, thus, do not find any infirmity with the view taken by the Chief Commissioner in rejecting the application of the assessee. 6. Learned counsel f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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