https://www.taxtmi.com/caselaws?id=21729 The court held that the Commissioner erred in rejecting applications for waiver of penalty and interest for the assessment years 1976-77 and 1977-78, as the returns filed, though late, constituted a disclosure of income. The court directed the Commissioner to waive penalty and interest for those years. Additionally, the court instructed the Commissioner to waive interest for the assessment year 1978-79 for two partners and also for another partner for multiple assessment years. The petitions were allowed, and the parties were granted relief with no costs awarded. en-us Fri, 31 Jan 1992 00:00:00 +0530 Fri, 27 Nov 2009 13:01:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21729 The court held that the Commissioner erred in rejecting applications for waiver of penalty and interest for the assessment years 1976-77 and 1977-78, as the returns filed, though late, constituted a disclosure of income. The court directed the Commissioner to waive penalty and interest for those years. Additionally, the court instructed the Commissioner to waive interest for the assessment year 1978-79 for two partners and also for another partner for multiple assessment years. The petitions were allowed, and the parties were granted relief with no costs awarded. Case-Laws Income Tax Fri, 31 Jan 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21729