Whether genuine hardship should be existing at time of assessment or levy of penalty or at time of making of application under section 273A(4)

Whether genuine hardship should be existing at time of assessment or levy of penalty or at time of making of application under section 273A(4) https://www.taxtmi.com/circulars?id=2927 The existence of genuine hardship under section 273A(4) must be demonstrated at the time the assessee makes the application and must continue to exist at the time the Commissioner passes an order; relief also requires that the assessee has cooperated in related inquiries and that the Commissioner records reasons for any reduction, waiver, stay or compounding of penalties or recovery proceedings. en-us Mon, 22 Nov 1999 00:00:00 +0530 Sat, 09 Aug 2008 18:22:00 +0530 TaxTMI RSS Generator Whether genuine hardship should be existing at time of assessment or levy of penalty or at time of making of application under section 273A(4) https://www.taxtmi.com/circulars?id=2927 The existence of genuine hardship under section 273A(4) must be demonstrated at the time the assessee makes the application and must continue to exist at the time the Commissioner passes an order; relief also requires that the assessee has cooperated in related inquiries and that the Commissioner records reasons for any reduction, waiver, stay or compounding of penalties or recovery proceedings. Circulars Income Tax Mon, 22 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2927