https://www.taxtmi.com/caselaws?id=38425 The Court dismissed the petition challenging the order under section 273A of the Income-tax Act, 1961 regarding penal interest imposition under sections 217 and 139(8). The petitioner's argument that an application under section 220(3) constituted satisfactory arrangements for payment was rejected. The Court emphasized strict compliance with statutory provisions and the need to meet specified conditions for penalty or interest reduction. Compliance with section 273A requirements for waiver or reduction of penalties or interest was deemed essential. en-us Thu, 09 Feb 1978 00:00:00 +0530 Tue, 06 Apr 2010 11:39:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38425 The Court dismissed the petition challenging the order under section 273A of the Income-tax Act, 1961 regarding penal interest imposition under sections 217 and 139(8). The petitioner's argument that an application under section 220(3) constituted satisfactory arrangements for payment was rejected. The Court emphasized strict compliance with statutory provisions and the need to meet specified conditions for penalty or interest reduction. Compliance with section 273A requirements for waiver or reduction of penalties or interest was deemed essential. Case-Laws Income Tax Thu, 09 Feb 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38425