1983 (9) TMI 38

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....sessee, has impugned the order, annexure P-3, of the Commissioner of Income-tax passed in exercise of powers under s. 273A of the I.T. Act, 1961 (hereinafter referred to as " the Act "), on the ground that the Commissioner did not indicate the reasons for not wholly waiving the penalty imposable under s. 271(1)(a) or interest under s. 217 of the Act even though he was satisfied that the case fell ....

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.... 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 notice to him under sub-section (2) of section 139, voluntarily and in good faith made full and true disclosure of his income ; (b) in the case referred to in clause (ii), has, prior to t....

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....aid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this Act in respect of the relevant assessment year .............." A perusal of the aforesaid provision would' show that the Commissioner is given the discretion when the requisite conditions envisaged by s. 273A are satisfied that he may waive or reduce the penalty or i....