https://www.taxtmi.com/circulars?id=8989 Section 273A allows the Commissioner to reduce or waive interest and penalties for applications made on or after 1 October 1975, or suo motu thereafter, irrespective of the assessment year or date of the underlying order. The Board defines genuine hardship as real, severe suffering or privation, to be assessed on the facts and circumstances; illustrative cases include business ruin from recovery, calamity-induced losses with no recoverable assets, serious illness diverting funds, disproportionate aggregated demands due to departmental delay, and bona fide filing misunderstandings. Applications may be held pending while appeals are exhausted or waived. en-us Sat, 26 Jun 1976 00:00:00 +0530 Wed, 01 Jun 2011 15:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8989 Section 273A allows the Commissioner to reduce or waive interest and penalties for applications made on or after 1 October 1975, or suo motu thereafter, irrespective of the assessment year or date of the underlying order. The Board defines genuine hardship as real, severe suffering or privation, to be assessed on the facts and circumstances; illustrative cases include business ruin from recovery, calamity-induced losses with no recoverable assets, serious illness diverting funds, disproportionate aggregated demands due to departmental delay, and bona fide filing misunderstandings. Applications may be held pending while appeals are exhausted or waived. Circulars Income Tax Sat, 26 Jun 1976 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8989