https://www.taxtmi.com/caselaws?id=36695 The High Court quashed the Commissioner's order rejecting the petitioner's application for penalty waiver under section 271(4A) of the Income Tax Act. The Court emphasized that the provision allows for waiver if the assessee voluntarily discloses income before notice under section 139(2), cooperates in assessments, and pays due taxes, without excluding prior assesses. Drawing parallels with the Wealth Tax Act, the Court held that the Commissioner erred in considering irrelevant factors and directed a fresh consideration adhering to the statutory requirements, granting the writ petition with costs imposed on the respondent. en-us Fri, 22 Feb 1980 00:00:00 +0530 Wed, 24 Mar 2010 10:41:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36695 The High Court quashed the Commissioner's order rejecting the petitioner's application for penalty waiver under section 271(4A) of the Income Tax Act. The Court emphasized that the provision allows for waiver if the assessee voluntarily discloses income before notice under section 139(2), cooperates in assessments, and pays due taxes, without excluding prior assesses. Drawing parallels with the Wealth Tax Act, the Court held that the Commissioner erred in considering irrelevant factors and directed a fresh consideration adhering to the statutory requirements, granting the writ petition with costs imposed on the respondent. Case-Laws Income Tax Fri, 22 Feb 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36695