https://www.taxtmi.com/caselaws?id=354379 The court upheld the legality and validity of the compounding fee under the Income Tax Act, 1961, finding it lawful and reasonable. The court determined that the compounding fee was justified due to the petitioner's prolonged delay in tax payment. The CBDT guidelines were deemed to be within legal bounds, and the petitioner was directed to pay the compounding charges within four weeks, along with costs of Rs. 50,000/- to the respondent. en-us Tue, 23 Jan 2018 00:00:00 +0530 Wed, 28 Feb 2018 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354379 The court upheld the legality and validity of the compounding fee under the Income Tax Act, 1961, finding it lawful and reasonable. The court determined that the compounding fee was justified due to the petitioner's prolonged delay in tax payment. The CBDT guidelines were deemed to be within legal bounds, and the petitioner was directed to pay the compounding charges within four weeks, along with costs of Rs. 50,000/- to the respondent. Case-Laws Income Tax Tue, 23 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354379