K.S.RATHORE, J. - (1.) NONE appeared on behalf of the respondents despite service.
(2.) THE main grievance of the petitioner is that the waiver application filed by the petitioner under Sections 215, 217, 139(8), 271(1)(a) and 273 of the Income -tax Act, 1961, for the assessment years 1985 -86 to 1988 -89, has wrongly been rejected. The assessee -petitioner filed a petition on December 6,1991, against the penalties levied, before the Commissioner of Income -tax, Jaipur and vide order dated March 31, 1993, after hearing on the petition filed by the petitioner has observed as under: disclosure by the assessee is only with a view to explaining investment in house property and its fullness cannot be commented on in view of the lack of enquiries and the above facts clearly show that the disclosure was not true inasmuch as the real source of funds has not been disclosed. Since these conditions are essential for the purposes of Section 273A, the petition of the assessee for the assessment years 1985 -86 to 1988 -89 is rejected.
(3.) THE petitioner challenged the order passed by the Commissioner of Income -tax, Jaipur, dated March 31, 1993, on the ground that the Commissioner has not properly appreciated the provisions of the Income -tax Act and referred to Section 273A which empowers to reduce or waive penalties which reads as under: The Commissioner while exercising power under Section 273A may reduce or waive the amount of penalty imposed or imposable on a person under Clause (iii) of Sub -section (1) of Section 271 or if he is satisfied that such person in the case referred in Clause (ii), has, prior to the detection by the Assessing Officer of the concealment of particulars of income or the inaccuracy of particulars furnished in respect of such income, voluntarily and in good faith, made full and true disclosure of such particulars and also has co -operated in any enquiry relating to the assessment of his income and has either paid or made satisfactory arrangements for the payment of any tax or interest payable in consequence of an order passed under this Act in respect of the relevant assessment year.;