banner_ad

Power to waive the penalty lies with whom?

200 views 4 replies
Hi, Assessee has got some unexplained drawings( no supporting documents). AO has charged the same as income by saying that it is hidden Income and assessee has agreed for charging as the same as income. my doubt is whether the AO has power to waive the Penalty for hidden Income?
Replies (4)

You have to make an application separately to waive the penality

Powers are with the comissioner of income tax

 

Is there any case law or Rule stating that we can make an application to Assessing officer?

power is held with comissioner or Principal comissioner only

ok.. thank u so much


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details