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2008 (8) TMI 518 - BOMBAY HIGH COURTPenalty- Interest- The assessee made a full and true disclosure of his income on March 30, 1992 before the income tax officer for assessment years 1984-85 to 1988-89 before issuance of any notice by the income tax department u/s 139(2) or u/s 148 of the Act, by filing returns for those years. The assessee accordingly paid the full taxes on the income so disclosed. A notice was issued for charging interest and penalty. The assessee filed an application under section 273A for waiver of interest and penalty. The application was rejected. Held that- the order rejecting the application under section 273A was not valid.
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