1996 (7) TMI 6

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..... aring. The petition is filed challenging the order-dated March 25, 1996, passed by the Commissioner of Income-tax under section 273A(1) of the Income-tax Act, 1961. By the impugned order, the Commissioner of Income-tax rejected the prayer of the petitioner to waive penalty as well as interest by holding that the petitioner has not made any satisfactory arrangement for the payment of unpaid amoun .....

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..... . 2,99,000. It was also ordered to initiate penalty proceedings under section 271(1)(c) of the Income-tax Act separately. Thereafter, the petitioner filed an application under section 273A(1) of the Income-tax Act for waiver of interest charges. From the facts stated above, it is apparent that before detection of the income undisclosed, the petitioner himself has approached and pointed out to .....

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