https://www.taxtmi.com/caselaws?id=758815 The HC set aside the rejection of an application for compounding under Section 279(2) of the Income Tax Act, 1961, due to inconsistency with statutory provisions. The Court found the Central Board of Direct Tax's Circular imposing a time limitation exceeded statutory authority. The matter was remanded to the Chief Commissioner of Income Tax (TDS) for reconsideration, ensuring no unauthorized time limits were applied. All rights and contentions of the parties were preserved for further consideration. The decision emphasized fairness and adherence to statutory requirements in compounding offenses under the Income Tax Act. en-us Wed, 10 Apr 2024 00:00:00 +0530 Wed, 18 Sep 2024 15:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758815 The HC set aside the rejection of an application for compounding under Section 279(2) of the Income Tax Act, 1961, due to inconsistency with statutory provisions. The Court found the Central Board of Direct Tax's Circular imposing a time limitation exceeded statutory authority. The matter was remanded to the Chief Commissioner of Income Tax (TDS) for reconsideration, ensuring no unauthorized time limits were applied. All rights and contentions of the parties were preserved for further consideration. The decision emphasized fairness and adherence to statutory requirements in compounding offenses under the Income Tax Act. Case-Laws Income Tax Wed, 10 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758815