Law:

Section:

Under section 273A, for waiver of penalty and interest what is relevant is full and true disclosure made voluntarily and in good faith, whether by way of belated returns or otherwise Section 273A of the Income-tax Act, 1961 - Penalty - Reduction or waiver of - Assessment years 1981-82, 1984-85 and 1988-89 - Whether for grant of relief under section 273A, what is relevant is full and true disclosure made voluntarily and in good faith and if such a disclosure is made through belated returns it does not cease to be a voluntary disclosure - Held, yes - Whether if disclosure made in belated returns is voluntary and in good faith and is accepted, then application for waiver under section 273A cannot be rejected on ground that there is no voluntary disclosure - Held, yes - Whether non-payment of penalty and interest during pendency of application for waiver under section 273A cannot be said to be non-cooperation on part of assessee - Held, yes FACTS The assessee filed an application before the Commissioner under section 273A seeking waiver or reduction of penalty and interest imposed upon her in respect of aforesaid assessment years and in that regard stated that for the relevant assessment years, the returns of income were filed by her voluntarily, though belatedly, that the returns could not be filed in time because of the breakdown of her relationship with her sons and at the relevant time the accounts were not maintained properly, and that the said returns of income were regularised by issue of notice under section 148 and were accepted as correct and assessment orders were passed, accordingly, with penalty and interest for delay in filing the returns and delay in payment of advance tax. The Commissioner rejected the assessee's application on the ground that the returns were not filed voluntarily, because the department had in its possession, information in the form of audit query in the case of the partnership firm in which the assessee was a partner and the returns were filed subsequent to the query raised by the audit party in respect of the firm and, therefore, the requirements of section 273A were not complied with, viz., the returns filed were neither…

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