https://www.taxtmi.com/circulars?id=9452 Penalties under sections 271(1)(a) and 271(1)(b) are to be levied separately for each assessment year and the applicability of section 271(4A) must be considered separately with reference to the facts of each assessment year. Requests for reduction or waiver of penalty should not be rejected for all years simply because the section is inapplicable to a particular year, although for Board approval officials should consider whether aggregate penalties across years exceed the threshold for sanctioning relief. en-us Wed, 03 Feb 1982 00:00:00 +0530 Mon, 06 Jun 2011 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9452 Penalties under sections 271(1)(a) and 271(1)(b) are to be levied separately for each assessment year and the applicability of section 271(4A) must be considered separately with reference to the facts of each assessment year. Requests for reduction or waiver of penalty should not be rejected for all years simply because the section is inapplicable to a particular year, although for Board approval officials should consider whether aggregate penalties across years exceed the threshold for sanctioning relief. Circulars Income Tax Wed, 03 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9452