Scope of Sec.273A(4).

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.... for the recovery of any such amount if he is satisfied that:- (i) to do otherwise would cause genuine hardship to the assessee having regard to the circumstances of the case, and (ii) the assessee has cooperated in any inquiry relating to the assessment or in any proceeding for the recovery of any amount due from him. 2. The advice of the Ministry of law stating that unless a penalty is ....

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....e penalty has not been paid. If the penalty has been partly or fully paid, there can be no case of any genuine financial hardship in respect of the payments already made. The question of waiver or reduction should, therefore, be considered only in respect of the amount which remains payable by the assessee. 5. However there may be cases where after application for waiver or reduction u/s.273(4)....