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2010 (8) TMI 121 - ALLAHABAD HIGH COURT-Revised return - Income Tax Officer passed assessment order accepting the revised return - issued notice for penalty under Section 271 (1) (c) of the Income Tax Act - application for waiver of penalty under Section 273-A of the Act - Chief Commissioner of Income Tax ( The CCIT) had observed that this is not a fit case for waiver of penalty under Section 273-A. Hence present writ petition - assessee has cooperated in the assessment proceedings and the perusal of records show that the taxes and interest determined on the completion of assessment have been paid - mentioned in section 273-A (1) (b) for waiving the penalty were satisfied yet the application was rejected on the observation of the CCIT that it was not a fit case for waiver of penalty – Held that: - under Section 271 (1) (b) are satisfied than mere saying that the CCIT has observed that it is not a fit case to waive the penalty is not sufficient - matter remanded.
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