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Waiver of Penalty u/s 273B

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Court :

Brief :
Case Fact: Whether the Commissioner (Appeals) has power to waive the penalty imposed u/s271D.

Citation :
C.I.T. Vs. Saini Medical Store

Decision: Held by the court that on combined reading of the provisions of section 271D & 273B of the act,if the assessee shows "reasonable cause" for the failure to comply with the provision of the act,the Commissioner (Appeals) may in his order waive the penalty.
 

CA. A. Kumar
on 10 July 2008
Published in Income Tax
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