Waiver of Penalty u/s 273B ::

Last updated: 07 September 2007

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.