https://www.taxtmi.com/caselaws?id=312424 The HC quashed the Commissioner's order imposing penalties on the petitioner-assessee under Section 18(1), as it lacked reasoning and violated principles of natural justice. The court noted the distinction between penalty imposition under Section 18(1)(a) and waiver under Section 18(2A), emphasizing the need for discretion based on relevant factors. The absence of reasons for not waiving or reducing penalties under Section 18(2A) was highlighted as a procedural flaw. The case was remitted to the Commissioner for reconsideration, ensuring compliance with legal standards and proper justification. en-us Thu, 04 Feb 1982 00:00:00 +0530 Fri, 16 Feb 2024 12:42:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=312424 The HC quashed the Commissioner's order imposing penalties on the petitioner-assessee under Section 18(1), as it lacked reasoning and violated principles of natural justice. The court noted the distinction between penalty imposition under Section 18(1)(a) and waiver under Section 18(2A), emphasizing the need for discretion based on relevant factors. The absence of reasons for not waiving or reducing penalties under Section 18(2A) was highlighted as a procedural flaw. The case was remitted to the Commissioner for reconsideration, ensuring compliance with legal standards and proper justification. Case-Laws Wealth-tax Thu, 04 Feb 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=312424