https://www.taxtmi.com/caselaws?id=18725 The court ruled that the petitioners' payment of tax on disclosed income before the Commissioner's consideration of their application for waiver or reduction of interest and penalties fulfilled the conditions under section 273A(1)(c). The court modified the impugned orders to reduce the interest under section 139(8) by 50% for each assessment year and waived the interest under section 217 and penalties under section 273(b). The court emphasized the beneficial nature of section 273A and the importance of not restricting its operation beyond the expressed boundaries. en-us Wed, 26 Jul 1995 00:00:00 +0530 Sat, 31 Oct 2009 16:06:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18725 The court ruled that the petitioners' payment of tax on disclosed income before the Commissioner's consideration of their application for waiver or reduction of interest and penalties fulfilled the conditions under section 273A(1)(c). The court modified the impugned orders to reduce the interest under section 139(8) by 50% for each assessment year and waived the interest under section 217 and penalties under section 273(b). The court emphasized the beneficial nature of section 273A and the importance of not restricting its operation beyond the expressed boundaries. Case-Laws Income Tax Wed, 26 Jul 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18725