https://www.taxtmi.com/caselaws?id=19149 The High Court of Gujarat ruled in favor of two partnership firms in petitions seeking to quash orders of interest and penalty by the Commissioner of Income-tax. The court emphasized the need for judicious exercise of discretionary power under section 273A of the Income-tax Act, stating that once conditions for waiver are met, full waiver should be granted. The court found that the respondent had not applied his mind, provided inadequate reasons, and failed to refute eligibility for full waiver. The court quashed the orders and directed the respondent to reevaluate in accordance with the law, stressing the importance of reasoned decisions in such matters. en-us Thu, 06 Apr 1995 00:00:00 +0530 Wed, 04 Nov 2009 13:01:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19149 The High Court of Gujarat ruled in favor of two partnership firms in petitions seeking to quash orders of interest and penalty by the Commissioner of Income-tax. The court emphasized the need for judicious exercise of discretionary power under section 273A of the Income-tax Act, stating that once conditions for waiver are met, full waiver should be granted. The court found that the respondent had not applied his mind, provided inadequate reasons, and failed to refute eligibility for full waiver. The court quashed the orders and directed the respondent to reevaluate in accordance with the law, stressing the importance of reasoned decisions in such matters. Case-Laws Income Tax Thu, 06 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19149