https://www.taxtmi.com/caselaws?id=446219 Madras HC held that CBDT cannot fix time limits for compounding IT Act offences through circular dated 14.06.2019. The court ruled that Section 279(2) of IT Act permits compounding applications before or after prosecution institution without time restrictions. The respondent's rejection of petitioner's compounding application solely on 12-month limitation grounds was set aside. HC found CBDT's circular contrary to statutory provisions, as the explanation empowers CBDT only for implementation, not imposing time limits for compounding applications. en-us Fri, 03 Nov 2023 00:00:00 +0530 Fri, 12 Jul 2024 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446219 Madras HC held that CBDT cannot fix time limits for compounding IT Act offences through circular dated 14.06.2019. The court ruled that Section 279(2) of IT Act permits compounding applications before or after prosecution institution without time restrictions. The respondent's rejection of petitioner's compounding application solely on 12-month limitation grounds was set aside. HC found CBDT's circular contrary to statutory provisions, as the explanation empowers CBDT only for implementation, not imposing time limits for compounding applications. Case-Laws Income Tax Fri, 03 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446219