https://www.taxtmi.com/caselaws?id=17533 The court ruled in favor of the petitioner, quashing the order that refused waiver for the assessment year 1977-78 under section 273A of the Income-tax Act. The Commissioner was directed to reconsider the waiver application, emphasizing the importance of good faith and full disclosure in determining eligibility for waiver of penalties and interest under the Act. The court highlighted that a disclosure must be honest to be considered "full and true," and good faith pertains to the individual's state of mind during disclosure, not solely based on additions made during assessment. en-us Thu, 09 Jan 1997 00:00:00 +0530 Wed, 23 Sep 2009 11:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17533 The court ruled in favor of the petitioner, quashing the order that refused waiver for the assessment year 1977-78 under section 273A of the Income-tax Act. The Commissioner was directed to reconsider the waiver application, emphasizing the importance of good faith and full disclosure in determining eligibility for waiver of penalties and interest under the Act. The court highlighted that a disclosure must be honest to be considered "full and true," and good faith pertains to the individual's state of mind during disclosure, not solely based on additions made during assessment. Case-Laws Income Tax Thu, 09 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17533