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Waiver of Penalty u/s 273B ::

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Court :
HC

Brief :
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.

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

Waiver of Penalty u/s 273B C.I.T. Vs. Saini Medical Store 1/3/2005 (2005) 276 ITR 79 (Punjab & Haryana) Case Fact: Whether the Commissioner (Appeals) has power to waive the penalty imposed u/s271D. 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.Saibaburao Nanduri
on 07 September 2007
Published in Income Tax
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