https://www.taxtmi.com/caselaws?id=26547 The court quashed the order rejecting the waiver of penalty under section 271(4A) for late returns filed for assessment years 1963-64 and 1964-65. The Commissioner's decision was overturned as the Tribunal found that the accounts were correct and complete, meeting the criteria for full disclosure of income. The court held that the return was filed voluntarily and in good faith before receiving notice under section 139(2) of the Act. The matter was remanded to the Commissioner for a new decision on the penalty waiver application for the year 1964-65. en-us Thu, 22 Nov 1984 00:00:00 +0530 Sat, 06 Feb 2010 10:04:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26547 The court quashed the order rejecting the waiver of penalty under section 271(4A) for late returns filed for assessment years 1963-64 and 1964-65. The Commissioner's decision was overturned as the Tribunal found that the accounts were correct and complete, meeting the criteria for full disclosure of income. The court held that the return was filed voluntarily and in good faith before receiving notice under section 139(2) of the Act. The matter was remanded to the Commissioner for a new decision on the penalty waiver application for the year 1964-65. Case-Laws Income Tax Thu, 22 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26547