https://www.taxtmi.com/caselaws?id=763636 The court set aside the impugned order rejecting the petitioner's application for compounding offences under the Income Tax Act, specifically Sections 276B and 278B. The rejection was initially based on the non-filing by the main accused, the company. However, new guidelines from the Central Board of Direct Taxes allow co-accused to apply separately for compounding. Agreeing with the Revenue counsel, the court remanded the matter to the competent authority for reconsideration under these guidelines. The petition was disposed of, and any pending applications were addressed accordingly. en-us Thu, 12 Dec 2024 00:00:00 +0530 Tue, 24 Dec 2024 08:28:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763636 The court set aside the impugned order rejecting the petitioner's application for compounding offences under the Income Tax Act, specifically Sections 276B and 278B. The rejection was initially based on the non-filing by the main accused, the company. However, new guidelines from the Central Board of Direct Taxes allow co-accused to apply separately for compounding. Agreeing with the Revenue counsel, the court remanded the matter to the competent authority for reconsideration under these guidelines. The petition was disposed of, and any pending applications were addressed accordingly. Case-Laws Income Tax Thu, 12 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763636