1989 (7) TMI 50 - HC - Income Tax

Summary

The High Court of Allahabad allowed the writ petition filed by Barnwal Abhushan Kendra, a registered firm, challenging the rejection of their application for waiver of penalty and interest for late filing of income tax return for the assessment year 1980-81. The court found that the Commissioner of Income-tax erred in not considering the power under section 273A of the Income-tax Act to reduce or waive the penalty. The court quashed the impugned order and directed the Commissioner to reconsider the matter.