https://www.taxtmi.com/caselaws?id=16296 The court analyzed the petitioner's application for quashing orders under sections 275A and 154 of the Income-tax Act, 1961, related to interest and penalty on income from agricultural lands compensated by the Haryana Government. The court emphasized the need for judicious exercise of discretion under section 273A, highlighting the importance of meeting conditions for waiver. Due to a delay in filing returns, the court found the penalty unjustified, holding the petitioner liable for interest for one year only. The judgment partially allowed the writ petition, modifying the interest charge period and quashing the penalty order. en-us Tue, 01 Dec 1998 00:00:00 +0530 Sat, 05 Sep 2009 16:43:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16296 The court analyzed the petitioner's application for quashing orders under sections 275A and 154 of the Income-tax Act, 1961, related to interest and penalty on income from agricultural lands compensated by the Haryana Government. The court emphasized the need for judicious exercise of discretion under section 273A, highlighting the importance of meeting conditions for waiver. Due to a delay in filing returns, the court found the penalty unjustified, holding the petitioner liable for interest for one year only. The judgment partially allowed the writ petition, modifying the interest charge period and quashing the penalty order. Case-Laws Income Tax Tue, 01 Dec 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16296