Subscribe To Our Free Newsletter:

Compounding Of Offenses: CBDT Circular Extends Time For Filing Applications

The CBDT has vide Circular No. 1/2020 dated 03.01.2020 extended the time limit for filing of applications for compounding of offenses under the Income-tax Act, 1961. The extension has been granted with a view to give a final opportunity to taxpayers and to reduce the pendency of existing prosecution cases before the courts.




Circular No. 1/2020
F.No.285/08/2014-IT(Inv. V) /63’l
Government of India
Ministry of Finance
Department of Revenue
(Central Board of Direct Taxes)
*******
Room No. 513, 5th Floor, C-Block,
Dr. Shyama Prasad Mukherjee Civic Centre,
Minto Road, New Delhi -110002.
Dated: 03.01.2020
Subject: Relaxation of time-Compounding of Offences under Direct Tax Laws-One-time measure-Extension of Timeline-Reg.
Reference is invited to the Circular No. 25/2019 F. No. 285/08 /2014-IT(Inv. V)/350dated 09.09.2019, whereby, the condition for filing of applications for compounding of
offences under the Income-tax Act, 1961 (the Act) , to be filed within 12 months from filing of
complaint in the court, was relaxed by CBOT till 31.12.2019, as a one-time measure.
2. The CBOT has received references from the field formation, including requests
made by the [CAl chapters, wherein, it has been brought to the notice of CBOT that the
taxpayers could not avail the benefit of the one-time relaxation window due to genuine
hardships.
3. With a view to give a final opportunity to such taxpayers, and to reduce the pendency
of existing prosecution cases before the courts, the CBOT in exercise of powers u/s 119 of the
Act, read with explanation below sub-section (3) of section 279 of the Act , issues this
Circular, whereby para 4. 1 i) of the Circular No. 25/20 [9 F. No. 285/08 /20 [4-[T(Inv. V)/350
dated 09.09 .2019 stands modified as under:
“Such application shall be filed before the Competent Authority i.e. the Pr.
CCITICCITIPr. DGITIDGIT concerned, all or before 31.01.2020. ”
4. It is clarified that all other prescriptions/conditions of the Circular No. 25/20 [9 shall
remain unchanged and shall apply to all such appli cations.


Leave a Reply

Your email address will not be published. Required fields are marked *

*


If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook


IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to editor@itatonline.info. Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder


Email



Unsubscribe