https://www.taxtmi.com/circulars?id=10177 The Commissioner's discretion under section 271(4A) permits reduction or waiver of penalties based on the distinct statutory conditions for relief, even during pendency of appeals or after confirmation by appellate or revisional authorities; previous refusal for want of jurisdiction can be revisited once jurisdiction is recognised. Voluntary disclosure of undiscovered income may qualify for relief if statutory conditions are met. No statutory time-limit exists; delay is weighed under the Commissioner's equitable discretion. The Board's clarifications similarly apply to the parallel Wealth-tax provision. en-us Mon, 15 Apr 1974 00:00:00 +0530 Sat, 11 Jun 2011 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10177 The Commissioner's discretion under section 271(4A) permits reduction or waiver of penalties based on the distinct statutory conditions for relief, even during pendency of appeals or after confirmation by appellate or revisional authorities; previous refusal for want of jurisdiction can be revisited once jurisdiction is recognised. Voluntary disclosure of undiscovered income may qualify for relief if statutory conditions are met. No statutory time-limit exists; delay is weighed under the Commissioner's equitable discretion. The Board's clarifications similarly apply to the parallel Wealth-tax provision. Circulars Income Tax Mon, 15 Apr 1974 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10177