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2013 (10) TMI 3 - PUNJAB & HARYANA HIGH COURTWaiver/ reduction of penalty imposed u/s 273A - poser of commissioner to reduce or waive penalty imposed under sections 271(1)(a) and 273(2(c) - CIT rejected the application – Held that:- Section 273-A of the Act enacts a non-obstante clause which empowers the Commissioner of Income Tax, whether on his own motion or otherwise, to reduce or waive penalty imposed or imposable. The discretion so conferred has to be exercised within the informed parameters set out in sub-clauses (a), (b), and (c) read along with Explanation I, as prevalent on the date of the application. The non-obstante clause indicates that the power so exercised would take colour from the sub-sections and sub-clauses of Section 273-A of the Act, and from no other provision of the Act. The opening words of Section 273-A of the Act, i.e., “Notwithstanding anything contained in this Act...”, confine consideration by the Commissioner of Income Tax to factors enumerated in Section 273-A of the Act. An adjudication based on grounds, other than grounds referred to in Section 273-A, would necessarily invite a valid charge that the order is null and void for an illegal exercise of jurisdiction, or a failure to exercise jurisdiction in accordance with statutory parameters set out in Section 273-A of the Act. Assessee had, prior to issuance of notice under sub-section 2 of Section 139 of the Act, voluntary made full disclosure of his income prior to any detection of the concealed income or the inadequacy of the particulars furnished - A perusal of the impugned order reveals that the Commissioner of Income Tax has assumed the role of an Assessing Officer and while dismissing the petition and rejecting the plea for reduction/waiver of the amount of penalty imposed has referred to the very same factors that led the Assessing Officer to impose penalty - Impugned order is set aside and the matter is remitted to the Commissioner of Income Tax, Bhatinda – Decided in favor of Assessee.
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