Section 273A : Power to reduce or waive penalty, etc., in certain cases.

273A. (1) Notwithstanding anything contained in this Act, the Principal Commissioner or Commissioner may, in his discretion, whether on his own motion or otherwise,— (i) Omitted by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. (ii) reduce or waive the amount of penalty imposed or imposable on a person under section 270A or clause (iii)…

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