Compounding of offences: allowed only after prosecution complaints when accounts are admitted and taxpayer cooperates. Compounding of offences relating to undisclosed foreign bank accounts/assets is allowed only after filing prosecution complaint(s); cases where the assessee has not admitted accounts or not cooperated in assessment, penalty and recovery proceedings are ineligible. Cases with admissions, tax and penalty payment and cooperation may be considered for compounding per the Board's guidelines dated 23-12-2014, but only after complaints are filed. The Black Money (Undisclosed Foreign Income and Assets) Act, 2015 contains no compounding provision and thus these clarifications do not apply to cases under that Act.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Compounding of offences: allowed only after prosecution complaints when accounts are admitted and taxpayer cooperates.
Compounding of offences relating to undisclosed foreign bank accounts/assets is allowed only after filing prosecution complaint(s); cases where the assessee has not admitted accounts or not cooperated in assessment, penalty and recovery proceedings are ineligible. Cases with admissions, tax and penalty payment and cooperation may be considered for compounding per the Board's guidelines dated 23-12-2014, but only after complaints are filed. The Black Money (Undisclosed Foreign Income and Assets) Act, 2015 contains no compounding provision and thus these clarifications do not apply to cases under that Act.
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