https://www.taxtmi.com/highlights?id=72593 Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for the aforementioned FYs for the first time, it would fall within the expression “first occasion”, as indicated in the guidelines for compounding of offences under Direct Tax Laws, 2019. - the compounding fee should have been calculated at the rate of 3%, and not at 5% - HC en-us Tue, 17 Oct 2023 10:24:58 +0530 Tue, 17 Oct 2023 10:24:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72593 Compounding of offence(s) - determination of compounding fee - first occasion - 5% or 3% of the amount of tax in default - Since a common application had been filed for the aforementioned FYs for the first time, it would fall within the expression “first occasion”, as indicated in the guidelines for compounding of offences under Direct Tax Laws, 2019. - the compounding fee should have been calculated at the rate of 3%, and not at 5% - HC Highlights Income Tax Tue, 17 Oct 2023 10:24:58 +0530 https://www.taxtmi.com/highlights?id=72593