Court Waives Penalty After Assessee's Withdrawal Denied u/s 8; Tax Already Paid, Single Default Noted.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Withdrawal of Compounding u/s 8 - there is no reason for the AO to consider the withdrawal application, since the assessee has already acted in accordance with the compounding application made and remitted the tax due under the scheme - penalty waived for one of non-payment or default in payment - HC....