https://www.taxtmi.com/caselaws?id=237548 The court upheld the Commissioner of Income Tax's rejection of the petitioner's application under Section 273-A of the Income Tax Act, citing reasons such as substantial income, habitual default in filing returns, and delayed payments of government revenue for assessment years 1985-86, 1986-87, and 1987-88. The judgment emphasized that the Commissioner's discretion in reducing or waiving penalties must align with the factors outlined in Section 273-A, and any decision must be solely based on the provisions of that section to be valid. Additionally, a separate case challenging an order under the Wealth Tax Act was remitted for a fresh decision in accordance with legal principles similar to the Income Tax Act case. en-us Thu, 01 Aug 2013 00:00:00 +0530 Fri, 06 Jun 2014 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237548 The court upheld the Commissioner of Income Tax's rejection of the petitioner's application under Section 273-A of the Income Tax Act, citing reasons such as substantial income, habitual default in filing returns, and delayed payments of government revenue for assessment years 1985-86, 1986-87, and 1987-88. The judgment emphasized that the Commissioner's discretion in reducing or waiving penalties must align with the factors outlined in Section 273-A, and any decision must be solely based on the provisions of that section to be valid. Additionally, a separate case challenging an order under the Wealth Tax Act was remitted for a fresh decision in accordance with legal principles similar to the Income Tax Act case. Case-Laws Income Tax Thu, 01 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237548