https://www.taxtmi.com/circulars?id=53916 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. en-us Fri, 04 Sep 2015 00:00:00 +0530 Sat, 01 Mar 2025 09:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=53916 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. Circulars Income Tax Fri, 04 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/circulars?id=53916