9911796707
TMI Blog1982 (7) TMI 68X X X X Extracts X X X X X X X X Extracts X X X X ..... ssioner, vide his order dated 16th March, 1978, accepted the plea of the petitioner in so far as the assessment years 1969-70 to 1972-73 were concerned, but he refused to grant relief to him in respect of assessment years 1965-66 to 1967-68. To quote in his own words, reason given by the Commissioner for refusing relief to the petitioner in respect of the aforementioned years was as follows : " The returns for the assessment years 1965-66 to 1967-68, though filed voluntarily at the time of disposal were actually filed beyond the time permissible under section 139(1), 139(2) or 139(4). The returns for these years had to be regulated by the issue of notice under section 148. For these three years, therefore, one of the necessary conditions ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay, in his discretion, whether on his own motion or otherwise, (i) reduce or waive the amount of penalty imposed or imposable on a person under clause (i) of sub-section (1) of section 271 for failure, without reasonable cause, to furnish the return of total income which he was required to furnish under sub-section (1) of section 139 ; or (ii) reduce or waive the amount of penalty imposed or imposable on a person under clause (iii) of sub-section (1) of section 271 ; or (iii) reduce or waive the amount of interest paid or payable under sub-section (8) of section 139 or section 215 or section 217 or the penalty imposed or imposable under section 273, if he is satisfied that such person- (a) in the case referred to in clause (i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rtain cases the disclosure of the income has been made in a bona fide manner and in good faith and further that in all such cases the assessee had co-operated in any inquiry relating to the assessment of his income and had also paid or made satisfactory arrangements for payment of tax or interest payable in consequence of an order passed under the Act in respect of the relevant assessment year. The section nowhere provides that the discretion of the Commissioner to waive any amount of penalty or interest under s. 273A is barred merely because the assessee did not file his returns within the period prescribed either under sub-s. (1), (2) or (4) of s. 139 of the I.T. Act. It appears that although the Commissioner has recorded a finding that t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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