https://www.taxtmi.com/caselaws?id=357589 The Tribunal clarified that the maximum amount of fine for compounding authority should be based solely on the fine prescribed for the defaulting company, not aggregate fines for company and officers. Joint applications for compounding must have a common interest and be specifically permitted by law. Joint applications for yearly compliance defaults are not maintainable, as each default is distinct. Common applications for non-compliance under both the 1956 Act and the 2013 Act are not allowed due to differing penalty structures. The Tribunal dismissed various applications for non-maintainability, emphasizing adherence to legal frameworks and penalties. en-us Fri, 16 Feb 2018 00:00:00 +0530 Tue, 25 Dec 2018 17:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=357589 The Tribunal clarified that the maximum amount of fine for compounding authority should be based solely on the fine prescribed for the defaulting company, not aggregate fines for company and officers. Joint applications for compounding must have a common interest and be specifically permitted by law. Joint applications for yearly compliance defaults are not maintainable, as each default is distinct. Common applications for non-compliance under both the 1956 Act and the 2013 Act are not allowed due to differing penalty structures. The Tribunal dismissed various applications for non-maintainability, emphasizing adherence to legal frameworks and penalties. Case-Laws Companies Law Fri, 16 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=357589