Court Rules Liquidator Not Responsible for Compounding Fees in Pre-CIRP Income Tax Offence u/ss 276-B, 278-B.

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....CIRP - Reimbursement of Compounding fees - Who is responsible for offence or compounding of offence under the Income Tax Act which was committed much before the initiation of CIRP proceedings - In the instant case as per the prosecution Respondent No. 1 has committed the offence under section 276 -B read with Section 278-B of the Income-tax Act, therefore, he has filed the Application before the compounding authority. Liquidator has not committed the alleged offence therefore; he is not required to file Application before compounding authority accepting that he has committed an alleged offence.....