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2004 (2) TMI 7 - HC - Income TaxOrder passed under section 273A - petitioner moved an application under section 273A for waiver of interest and penalty. The said application was rejected by the CIT holding that the income declared on estimate was without any basis and that no proof or details in support thereof was filed. - Commissioner hold that the petitioner's disclosure could not be said to be full and true for all these years and went on to reject the application - Held; that impugned order is quashed and set aside. The petition is allowed and the matter is remanded back to the Commissioner of Income-tax to consider the application for waiver of the amount of penalty on the premise that the petitioner has complied with all the conditions of section 273A(1)
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