https://www.taxtmi.com/caselaws?id=12825 A prior voluntary and good-faith disclosure of income, made by filing a revised return before any Revenue detection, can justify waiver of penalty under section 273A(1) of the Income-tax Act, 1961. On those facts, the Bombay HC held that the assessee qualified for penalty relief and set aside the refusal of such waiver. However, the Court sustained the refusal to waive interest under the same provision on the material before it. The petition therefore succeeded only in part, with penalty relief granted and interest relief left undisturbed. en-us Mon, 15 Jul 1996 00:00:00 +0530 Fri, 22 May 2009 11:54:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12825 A prior voluntary and good-faith disclosure of income, made by filing a revised return before any Revenue detection, can justify waiver of penalty under section 273A(1) of the Income-tax Act, 1961. On those facts, the Bombay HC held that the assessee qualified for penalty relief and set aside the refusal of such waiver. However, the Court sustained the refusal to waive interest under the same provision on the material before it. The petition therefore succeeded only in part, with penalty relief granted and interest relief left undisturbed. Case-Laws Income Tax Mon, 15 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12825