https://www.taxtmi.com/caselaws?id=220993 The Court found in favor of the petitioner, holding that there was justification for the delay in filing returns post receipt of enhanced compensation. The judgment clarified the discretionary power of the Commissioner under Section 273A of the Income Tax Act, emphasizing the need for a fair and objective assessment of each case to determine the appropriate relief regarding interest and penalty. The Court underscored the importance of meeting specific conditions for waiver and ensuring a judicious exercise of discretion in such matters. en-us Thu, 19 Jul 2012 00:00:00 +0530 Mon, 18 Feb 2013 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220993 The Court found in favor of the petitioner, holding that there was justification for the delay in filing returns post receipt of enhanced compensation. The judgment clarified the discretionary power of the Commissioner under Section 273A of the Income Tax Act, emphasizing the need for a fair and objective assessment of each case to determine the appropriate relief regarding interest and penalty. The Court underscored the importance of meeting specific conditions for waiver and ensuring a judicious exercise of discretion in such matters. Case-Laws Income Tax Thu, 19 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220993