https://www.taxtmi.com/circulars?id=8917 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. en-us Mon, 13 Nov 1972 00:00:00 +0530 Mon, 30 May 2011 18:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8917 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. Circulars Income Tax Mon, 13 Nov 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8917