9911796707
TMI Blog1993 (10) TMI 9X X X X Extracts X X X X X X X X Extracts X X X X ..... payable by it. Therefore, the Income-tax Officer levied penalty under section 273(b) of the Income-tax Act, 1961, for the assessment year 1975-76. He also levied penalty under section 271(1)(a) for late filing of the returns for the assessment years 1976-77, 1977-78 and 1978-79. For all the four assessment years, the Income-tax Officer levied interest under section 139(8) read with section 217 of the Act. The petitioner then approached the Commissioner of Income-tax under section 273A for reduction or waiver of penalty and interest levied by the Income-tax Officer. The Commissioner passed the following order and partly granted the petitioner's application: "2. I have gone through the case records of the assessee vis-a-vis the contents of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ling of the returns and levy of penalty on that ground, the Commissioner had really misdirected himself by proceeding on the basis that the assessee had not furnished any explanation for the delay and, therefore, he reduced the penalty only by 50 per cent. and not in toto. It is now not in dispute that the conditions contemplated by section 273A were complied with by the assessee, inasmuch as the assessee had voluntarily and in good faith made full and true disclosure of its income and had co-operated in the inquiry relating to the assessment of fixed income and had also paid tax and interest payable in consequence of the orders passed by the authorities under the Act. The learned advocate for the petitioner pointed out that in his applicat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . He had earlier in paragraph 2 observed that all the conditions required by section 273A were satisfied. It was, therefore, improper on his part to reject the application of the petitioner for waiver of penalty and interest under section 273(b) and sections 139(8) and 217 on the ground that the conditions under section 273A were not satisfied. That is the only ground given by the Commissioner for rejecting the application of the petitioner. As we find that the only ground given by the Commissioner in this behalf is bad, that part of the order passed by the Commissioner will have to be quashed and set aside. In such cases we ordinarily direct the authorities to pass a fresh order after proper application of mind and, for that reason, in t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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