Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
The revised compounding guidelines for tax offenses provide significant procedural updates regarding application eligibility and processing. Applications pending as of October 17, 2024 will be processed under the new guidelines without requiring fresh submissions or fees. The limitation period for applications has been eliminated, allowing previously rejected applications to be refiled as subsequent applications. Co-accused may apply separately or jointly, with no separate fees required. Payment extensions up to 24 months are permitted. Compounding charges are determined by application sequence and offense type, with subsequent applications for the same offense incurring higher rates (1.2x, 1.4x, etc.). Applications filed more than 12 months after prosecution launch face a 50% surcharge. The guidelines also address cases involving convicted persons and those under investigation by other agencies.
The revised compounding guidelines for tax offenses provide significant procedural updates regarding application eligibility and processing. Applications pending as of October 17, 2024 will be processed under the new guidelines without requiring fresh submissions or fees. The limitation period for applications has been eliminated, allowing previously rejected applications to be refiled as subsequent applications. Co-accused may apply separately or jointly, with no separate fees required. Payment extensions up to 24 months are permitted. Compounding charges are determined by application sequence and offense type, with subsequent applications for the same offense incurring higher rates (1.2x, 1.4x, etc.). Applications filed more than 12 months after prosecution launch face a 50% surcharge. The guidelines also address cases involving convicted persons and those under investigation by other agencies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
