https://www.taxtmi.com/caselaws?id=17705 The High Court allowed the petition, quashed the impugned order rejecting waiver of interest and penalty for late filing of income tax returns for assessment years 1979-80 to 1983-84, and directed the Commissioner to reconsider the application within two weeks. The court emphasized the discretionary nature of the power under section 273A, highlighting the importance of judicious exercise and consideration of an assessee's efforts to comply with payment obligations in waiver applications. The judgment underscored the need for fair and timely assessment of waiver requests, focusing on satisfactory payment arrangements rather than mere non-payment as grounds for rejection. en-us Fri, 24 Jan 1997 00:00:00 +0530 Thu, 24 Sep 2009 12:41:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17705 The High Court allowed the petition, quashed the impugned order rejecting waiver of interest and penalty for late filing of income tax returns for assessment years 1979-80 to 1983-84, and directed the Commissioner to reconsider the application within two weeks. The court emphasized the discretionary nature of the power under section 273A, highlighting the importance of judicious exercise and consideration of an assessee's efforts to comply with payment obligations in waiver applications. The judgment underscored the need for fair and timely assessment of waiver requests, focusing on satisfactory payment arrangements rather than mere non-payment as grounds for rejection. Case-Laws Income Tax Fri, 24 Jan 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17705