https://www.taxtmi.com/caselaws?id=14320 The High Court of Madras, in the judgment delivered by Judge R. Jayasimha Babu, dismissed the writ petition seeking waiver of interest under sections 139 and 217 of the Income-tax Act, 1961 for assessment years 1985-86 to 1988-89. The decision emphasized the importance of voluntary disclosure, timely filing of returns, and the discretionary nature of the Commissioner's power to waive interest under section 273A. The judgment clarified that the provision is intended to assist honest taxpayers and should not be misused by individuals seeking to avoid penal consequences through belated filings. en-us Fri, 09 Feb 2001 00:00:00 +0530 Wed, 15 Jul 2009 12:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14320 The High Court of Madras, in the judgment delivered by Judge R. Jayasimha Babu, dismissed the writ petition seeking waiver of interest under sections 139 and 217 of the Income-tax Act, 1961 for assessment years 1985-86 to 1988-89. The decision emphasized the importance of voluntary disclosure, timely filing of returns, and the discretionary nature of the Commissioner's power to waive interest under section 273A. The judgment clarified that the provision is intended to assist honest taxpayers and should not be misused by individuals seeking to avoid penal consequences through belated filings. Case-Laws Income Tax Fri, 09 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14320