9911796707
TMI BlogPower to reduce or waive penalty, etc., in certain cases.X X X X Extracts X X X X X X X X Extracts X X X X ..... section 439 if he is satisfied that such person,-- (a) before the Assessing Officer detected any concealment of particulars of income or of the inaccuracy of particulars furnished in respect of such income, has made a full and true disclosure of such particulars voluntarily and in good faith; and (b) has cooperated in any enquiry relating to the assessment of his income and has paid or made s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ector General, as the case may be, before waiving or reducing the penalty by order referred to in sub-section (1). (4) Where an order has been made under sub-section (1) in favour of any person, whether such order relates to one or more tax years, he shall not be entitled to any relief under this section in relation to any other tax year at any time after the making of such order. (5) The Princi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te amount of penalties reduced or waived or compounded, as the case may be, under sub-section (5), exceeds one lakh rupees. (7) An order under sub-section (5), accepting or rejecting the application under the said sub-section, shall be passed within twelve months from the end of the month in which such application was received by the Principal Commissioner or Commissioner. (8) No rejection of ap ..... X X X X Extracts X X X X X X X X Extracts X X X X
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