1987 (7) TMI 48

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....ioner, who is an assessee under the Incometax Act, 1961 (hereinafter referred to as " the Act "), made an application in respect of the years 1968-69 and 1969-70 for waiver of penalty leviable under section 271(1)(a), interest charged under sections 139(8) and 217 and penalty leviable under section 273(b). The Commissioner of Income-tax, by his order dated February 23, 198 1, a copy whereof has....

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.... The basic question which falls for consideration is as to whether the Commissioner of Income-tax committed an error of law or an error of jurisdiction in taking the view that the penalty under section 273(b) and interest charged under sections 139(8) and 217 of the Act could not be waived inasmuch as the petitioner had not complied with the requirement of section 273A(1)(c) of the Act. Havin....

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....n clause (iii) has, prior to the issue of a notice to him under sub-section (2) of section 139, or where no such notice has been issued and the period for the issue of such notice has expired, prior to the issue of notice to him under section 148, voluntarily and in good faith made full and true disclosure of his income and has paid the tax on the income so disclosed, and also..." The case o....

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....return, it has been stated that the requisite amount of tax was deposited by the petitioner only on February 8, 1980. This fact has not been disputed on behalf of the petitioner and it is not the case of the petitioner that the tax was paid prior to July 2, 1975, when the notice under section 148 of the Act was issued. Apparently, therefore, the condition precedent for grant of waiver under sectio....