https://www.taxtmi.com/caselaws?id=427911 The court held that the impugned notification was not violative of the FCR Act or the Constitution. Delay in filing returns was deemed an offence under the FCR Act. Penalties for the financial years 2010-11 and 2011-12 were upheld, while the penalty for 2009-10 was deemed unsustainable. The petitioner was given four weeks to pay the upheld penalties and seek compounding of the offence. The court disposed of the petition without awarding costs. en-us Thu, 15 Sep 2022 00:00:00 +0530 Tue, 20 Sep 2022 10:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427911 The court held that the impugned notification was not violative of the FCR Act or the Constitution. Delay in filing returns was deemed an offence under the FCR Act. Penalties for the financial years 2010-11 and 2011-12 were upheld, while the penalty for 2009-10 was deemed unsustainable. The petitioner was given four weeks to pay the upheld penalties and seek compounding of the offence. The court disposed of the petition without awarding costs. Case-Laws FEMA Thu, 15 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427911