https://www.taxtmi.com/caselaws?id=433271 The HC quashed the order dated 1st June 2021 by the Chief Commissioner of Income Tax (TDS), Mumbai, rejecting the petitioners' application for compounding an offence under Section 276B, read with Section 278B of the Income Tax Act, 1961. The court held that CBDT Guidelines could not restrict the statutory powers under Section 279(2) and emphasized the Chief Commissioner's discretion in compounding applications. The case was remanded for fresh consideration, directing a decision within thirty days, and stayed the pending criminal proceedings in the City Sessions Court. The challenge to the CBDT Circular's validity remains open for future consideration. en-us Mon, 28 Nov 2022 00:00:00 +0530 Wed, 18 Dec 2024 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433271 The HC quashed the order dated 1st June 2021 by the Chief Commissioner of Income Tax (TDS), Mumbai, rejecting the petitioners' application for compounding an offence under Section 276B, read with Section 278B of the Income Tax Act, 1961. The court held that CBDT Guidelines could not restrict the statutory powers under Section 279(2) and emphasized the Chief Commissioner's discretion in compounding applications. The case was remanded for fresh consideration, directing a decision within thirty days, and stayed the pending criminal proceedings in the City Sessions Court. The challenge to the CBDT Circular's validity remains open for future consideration. Case-Laws Income Tax Mon, 28 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433271