Power to reduce or waive penalty, etc., in certain cases.

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Power to reduce or waive penalty, etc., in certain cases.

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....r imposable under section 439 if he is satisfied that such person,-- (a) before the Assessing Officer detected any concealment of particulars of income or of the inaccuracy of particulars furnished in respect of such income, has made a full and true disclosure of such particulars voluntarily and in good faith; and (b) has cooperated in any enquiry relating to the assessment of his income and h....

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....Principal Commissioner or Commissioner shall obtain prior approval from the Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General, as the case may be, before waiving or reducing the penalty by order referred to in sub-section (1). (4) Where an order has been made under sub-section (1) in favour of any person, whether such order relates to one or more....

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....ke prior approval from the Principal Chief Commissioner or Chief Commissioner or Principal Director General or Director General, as the case may be, if the aggregate amount of penalties reduced or waived or compounded, as the case may be, under sub-section (5), exceeds Rs.100000. (7) An order under sub-section (5), accepting or rejecting the application under the said sub-section, shall be passed....

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Power to reduce or waive penalty, etc., in certain cases.