https://www.taxtmi.com/caselaws?id=21189 The court upheld the decision of the officials to grant only a partial reduction in interest to a husband and wife in the medical profession who sought waiver of interest under section 273A of the Income-tax Act. The court found that the officials properly exercised their discretion in reducing the interest based on the delayed attempt by the petitioners to rectify omissions in their original returns after an income tax survey. The court emphasized that the statute grants discretionary power to reduce or waive interest and dismissed the petitioners' claim for full waiver, distinguishing the case from relevant case law judgments. en-us Tue, 25 Aug 1992 00:00:00 +0530 Fri, 20 Nov 2009 16:11:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21189 The court upheld the decision of the officials to grant only a partial reduction in interest to a husband and wife in the medical profession who sought waiver of interest under section 273A of the Income-tax Act. The court found that the officials properly exercised their discretion in reducing the interest based on the delayed attempt by the petitioners to rectify omissions in their original returns after an income tax survey. The court emphasized that the statute grants discretionary power to reduce or waive interest and dismissed the petitioners' claim for full waiver, distinguishing the case from relevant case law judgments. Case-Laws Income Tax Tue, 25 Aug 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21189