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2011 (3) TMI 643 - ALLAHABAD HIGH COURTWaiver of penalty u/s 271(1)(c) - Perusal of section 273A(2)(b) of the Act shows that the grant of waiver is subject to the approval of the Chief CIT, in case where the amount exceeds rupees five lakhs - where the Chief CIT proposes to grant approval for waiver, no opportunity is required to be given to the assessee but in case he proposes to refuse the approval, the principle of natural justice is to be observed and the opportunity to the assessee should be given as it adversely affects the right of the assessee and assessee suffers from civil consequences - Only because certain consequences would ensure if the principles of natural justice are required to be complied with, the same by itself would not mean that the Court would not insist on complying with the fundamental principles of law - Decided in favour of the assessee by way of remand to AO
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