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TMI Blog2013 (1) TMI 541X X X X Extracts X X X X X X X X Extracts X X X X ..... ctly, this Court after perusing the circular dated 23.5.1996 comes to a conclusion that the findings of the revenue authority on this aspect are indeed correct. Since the petitioner does not fall under the exemption category such exemption cannot be given to the petitioner - against assessee. - WRIT PETITION NO. 2191 OF 2007 (M/S) - - - Dated:- 5-11-2012 - SUDHANSHU DHULIA, J. Present: Mr. D.S. Patni, Advocate for the petitioner. Mr. H.M. Bhatia, Advocate for the respondents. Hon ble Sudhanshu Dhulia, J. (Oral) 1. Heard Mr. D.S. Patni, Advocate for the petitioner and Mr. H.M. Bhatia, Advocate for the respondents. 2. The petitioner has challenged the order dated 29.12.2006 passed by the Commissioner of Income Tax, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to be utilized for payment of advance tax instalment or instalments as they fall due after the seizure of cash and the assessee has not paid fully or partly advance tax on the current income and the Chief Commissioner or the Director General is satisfied that the assessee is unable to pay the advance tax. (c) where any income chargeable to income-tax under any head of income, other than capital gains is received or accrues after the due date of payment of the first or subsequent instalments of advance tax which was neither anticipated nor was in the contemplation of the assessee and the advance tax on such income is paid in the remaining instalment or instalments and the Chief Commissioner or Director General is satisfied on the fact ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... advance tax for the assessment year 1995-96, however, the interest cannot be waived as he does not fulfill the second condition which is that he does not fall in any of the five categories stipulated in the Circular dated 23.5.1996. 4. The only ground taken by the assessee for payment of advance tax belatedly is that he suffered financial losses in his publication business. However, such a ground does not exist in the circular dated 23.5.1996 in order to grant exemption to the petitioner for payment of interest of late advance tax. Therefore, the revenue authority has rightly come to the conclusion that such waiver cannot be granted to the petitioner. Since this is a fiscal matter and has to be construed strictly, this Court after perusi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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