Penalty reduction procedure: total wealth statements not required for small-income cases when seeking penalty waiver. Where a petitioner seeks reduction or waiver of penalty under section 271(1)(a), the Commissioner of Income Tax need not insist on total wealth statements at the beginning and end of the disclosure period if the total income determined in any year does not exceed Rs. 25,000, and the Board's earlier instructions are modified to that extent.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Penalty reduction procedure: total wealth statements not required for small-income cases when seeking penalty waiver.
Where a petitioner seeks reduction or waiver of penalty under section 271(1)(a), the Commissioner of Income Tax need not insist on total wealth statements at the beginning and end of the disclosure period if the total income determined in any year does not exceed Rs. 25,000, and the Board's earlier instructions are modified to that extent.
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