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TMI Blog2014 (11) TMI 942X X X X Extracts X X X X X X X X Extracts X X X X ..... by invoking provisions of Sections 234B and 234C - the Chief Commissioner committed no error, much less any jurisdictional error in passing the orders – Decided against assessee. - SPECIAL CIVIL APPLICATION NO. 13290 of 2004 With SPECIAL CIVIL APPLICATION NO. 13291 of 2004 With SPECIAL CIVIL APPLICATION NO. 7921 of 2006 - - - Dated:- 17-11-2014 - MR. KS JHAVERI AND MR. K.J.THAKER, JJ. MR SN SOPARKAR, SR. ADVOCATE, MRS SWATI SOPARKAR, ADVOCATE FOR THE PETITIONER MR PRANAV G DESAI, ADVOCATE for the Respondent COMMON ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. Since, the issue involved in these petitions is common, they are heard together and disposed of by this common judgment. 2. For the sake ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the decision of the Apex Court in TUTICORIN ALKALIES CHEMICALS FERTILIZERS LTD. Vs. CIT , 227 ITR 172. The revised returns filed by the assesses were, though, accepted by the AO, while doing so he levied penalty on the assesses by invoking provisions of Sections 234B and 234C. Hence, the petitioner filed the application under Section 119(2)(a) of the Act for waiver of interest, which came to be dismissed by the Revenue by way of the impugned order. Hence, the assesses have approached this Court by way of the present petitions. 6. So far as the facts of Special Civil Application No. 7921 of 2006 are concerned, in view of the decision of the Apex Court in TUTICORIN ALKALIES CHEMICALS FERTILIZERS LTD. (Supra) made an application ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed out that by virtue of the power vested in the Board under section 119(2)(a) of the Act, the Board has issued circulars by Notification No. F. No. 400/234/95-IT(B), dated May 23, 1996. As per this circular, it has empowered that the Chief Commissioner of Income-tax and Director- General of Income-tax may waive or reduce interest charged under section 234A, 234B and 23C of the Act in the class of cases or class of incomes specified in paragraph 2 of the said order for the period and on conditions which are enumerated therein. He submitted that in view of the said circular, the same authority can be exercised by the Commission since the said circular would amount to relaxation of the rigour of sections 234A, 234B and 234C of the Act. We are ..... X X X X Extracts X X X X X X X X Extracts X X X X
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