Power of Commissioner to Waive or Reduce the Penalty, Under Income Tax Act.

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Power of Commissioner to waive or reduce the Penalty, under Income Tax Act.

PROJECT FOR THE SUBJECT

Tax laws - I

SUBMITTED BY

Mr. Utkarsh R. Kodekar (Roll No. 07BAL022) & Mr. Jayneel Parikh (Roll No. 07BAL037) Semester – VII (B.A.LL.B.)

UNDER THE GUIDANCE OF

Asst. Prof. Tinku Punjabi
Asst. Prof., ILNU

INSTITUTE OF LAW, NIRMAUNIVERSITY AHMEDABAD

ACADEMIC YEAR (2010-11)

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DECLARATION

I Parikh Jayneel declare the work entitled “Power of Commissioner to waive or reduce the Penalty” being submitted to Nirma University for the project in the subject

of “Tax Laws - I” is original and where the text is taken from the authenticated books, articles or web articles, appropriate reference is given. It is true in my best of knowledge.

Date :

Jayneel Parikh Roll No 07 BAL 037 VII Semester, (2010-11) Institute of Law NirmaUniversity

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CERTIFICATE

This is to certify that the thesis entitled “Power of Commissioner to waive or reduce the Penalty” – submitted by Mr. Jayneel Parikh for the project work in the subject of

Tax Laws I embodies independent and original research work carried out by him under my supervision and guidance. To the best of my knowledge and belief, it is his original work submitted to fulfil the project assignment for the Semester End Examination of seventh semester of B.A.LL.B. Programme during the academic year 2010-11.

Date :

Mr. Tinku Punjabi Asst. Professor in Law Institute of Law, NirmaUniversity Ahmedabad

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ACKNOWLEDGEMENT
A successful accomplishment of research project signifies great contribution of the Course Coordinator. In the present research project Asst. Prof Tinku Punjabi has contributed significantly in the accomplishment of this research project. Without his support and guidance this research project would have been an unrealistic dream. Asst. Prof Tinku Punjabi has guided the researcher through out the preparation of project. Besides he also gave valuable inputs for the research project. At this moment the researcher would like to heartily acknowledge contribution of Asst. Prof Tinku Punjabi in the preparation of research project. The researcher would acknowledge the contribution of library staff for extending such support to the researcher. Last but not the least researcher would like to thank Institute of Law for providing such opportunity in the form of project whereby our knowledge is enhanced. Besides the researcher wish to express gratitude to those who may have contributed to this wok even though anonymously. The researcher extends his sincere thanks to all.

Date :

Mr./Ms.

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TABLE OF CONTENTS
Sr. No. Pg. No.

Content

1.

Introduction to the Topic

1

2.

Legal Provision

5

3.

Judicial Trend

27

4.

Conclusion

32

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CHAPTER – 1 INTRODUCTION AND RESEARCH METHODOLOGY 1.1 Introduction: This section was inserted by the Taxation Laws (Amendment) Act 1975 with effect from 1 October 1975. It empowers the commissioner to reduce or waive the penalty imposed or imposable in certain cases. The provision pertaining to reduction or waiver of penalty are substantially similar to those of sub-section (4A) and (4B) of s 271, which were deleted by the same Amendment Act. 1.2 Aims Objectives of the research: In view of the foregoing discussion, the main purpose of the present work is to introduce the concept of Power of Commissioner to waive or reduce the Penalty and discuss its importance in the life of an individual. Keeping in view this aim, the researchers has analyzed the legal provision/regulatory framework dealing with Power of Commissioner to waive or reduce the Penalty and concentrated on the practical aspects covering various judicial interpretations throwing a light upon the scope and application of the concept. The researchers in the present study has attempted to highlight the object of the provision relating to Power of...
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