https://www.taxtmi.com/caselaws?id=9267 The High Court ruled in favor of the assessee, affirming the Appellate Tribunal's decision to delete penalties under section 271(1)(a) for the assessment years 1958-59 and 1959-60. The Court held that the Commissioner's silence on the penalties indicated a waiver, emphasizing the Commissioner's authority to waive or reduce penalties under section 271(4A). The judgment underscored that the penalty should be deleted based on the circumstances and the interpretation of the Income-tax Act, 1961. en-us Mon, 03 Dec 1973 00:00:00 +0530 Sat, 20 Jun 2009 16:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9267 The High Court ruled in favor of the assessee, affirming the Appellate Tribunal's decision to delete penalties under section 271(1)(a) for the assessment years 1958-59 and 1959-60. The Court held that the Commissioner's silence on the penalties indicated a waiver, emphasizing the Commissioner's authority to waive or reduce penalties under section 271(4A). The judgment underscored that the penalty should be deleted based on the circumstances and the interpretation of the Income-tax Act, 1961. Case-Laws Income Tax Mon, 03 Dec 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9267