https://www.taxtmi.com/caselaws?id=9103 The court ruled in favor of the petitioner, emphasizing that under section 271(4A) of the Income-tax Act, penalties can be reduced or waived if specific conditions are met. As the petitioner had voluntarily disclosed income before penalty notices were issued, meeting the criteria of the Act, the Commissioner's order rejecting the waiver application was deemed insufficient as it lacked reasoning. The court allowed the writ petition, quashed the order, and directed the Commissioner to issue a new order in accordance with the law and the court's decision, with no costs awarded. en-us Fri, 19 Jan 1973 00:00:00 +0530 Fri, 19 Jun 2009 15:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9103 The court ruled in favor of the petitioner, emphasizing that under section 271(4A) of the Income-tax Act, penalties can be reduced or waived if specific conditions are met. As the petitioner had voluntarily disclosed income before penalty notices were issued, meeting the criteria of the Act, the Commissioner's order rejecting the waiver application was deemed insufficient as it lacked reasoning. The court allowed the writ petition, quashed the order, and directed the Commissioner to issue a new order in accordance with the law and the court's decision, with no costs awarded. Case-Laws Income Tax Fri, 19 Jan 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9103