https://www.taxtmi.com/caselaws?id=365242 The court upheld the rejection of the compounding application under Section 279(2) of the Income Tax Act, 1961, due to the petitioners' failure to pay the full compounding fee. Despite the petitioners' dispute over the fee amount, the court ruled that the fee was fixed by statute and should be based on guidelines in place at the time of application, not retroactively. The court directed the petitioners to pay the remaining fee to compound the offences and withdraw the criminal proceedings initiated against them, emphasizing the importance of adherence to statutory requirements and relevant guidelines. en-us Tue, 01 May 2018 00:00:00 +0530 Mon, 13 Aug 2018 06:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365242 The court upheld the rejection of the compounding application under Section 279(2) of the Income Tax Act, 1961, due to the petitioners' failure to pay the full compounding fee. Despite the petitioners' dispute over the fee amount, the court ruled that the fee was fixed by statute and should be based on guidelines in place at the time of application, not retroactively. The court directed the petitioners to pay the remaining fee to compound the offences and withdraw the criminal proceedings initiated against them, emphasizing the importance of adherence to statutory requirements and relevant guidelines. Case-Laws Income Tax Tue, 01 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365242