1990 (7) TMI 94

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....ber 25, 1979, March 31, 1982, March 26, 1983 and March 26, 1983, respectively. The returns were filed before notices under section 139(2) or 148 were served upon the assessee. Since the returns were filed beyond the prescribed period, interest was levied by the Income-tax Officer under sub-section (8) of section 139. He also levied penalties under section 271(1)(a), after the assessments were completed for all the four assessment years. The petitioner made an application to the Commissioner to waive the interest and penalties levied for the said assessment years. His application under section 273A was made on February 1, 1986. The Commissioner of Income-tax allowed the said application only partly; he waived the penalty in a sum of Rs. 2,33....

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....imposed or imposable on a person under clause (i) of sub-section (1) of section 271 for failure, without reasonable cause, to furnish the return of total income which he was required to furnish under sub-section (1) of section 139 ; or (ii) reduce or waive the amount of penalty imposed or imposable on a person under clause (iii) of sub-section (1) of section 271 ; or (iii) reduce or waive the amount of interest paid or payable under sub-section (8) of section 139 or section 215 or section 217 or the penalty imposed or imposable under section 273, if he is satisfied that such person (a) in the case referred to in clause (i), has, prior to the issue of a notice to him under sub-section (2) of section 139, voluntarily and in good faith m....

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....ner gets the jurisdiction to waive the penalty or interest, as the case may be. Merely because the conditions mentioned in sub-section (1) are satisfied, no assessee can claim a total waiver of penalty/interest. It is a matter within the discretion of the Commissioner. He shall consider all the relevant facts and circumstances of the case and then decide whether penalty/interest should be waived and if so in what measure. Sub-section (3) says that where an order under sub-section (1) has been made once, it shall not be exercised in respect of the said person again whether in respect of the same assessment year or any other assessment year. At the same time, sub-section (3) also makes it clear that the order may relate to either one assessme....