Compounding of offence u/s 279 - evasion of tax - petitioner ...
Case Laws Income Tax
June 1, 2022
Compounding of offence u/s 279 - evasion of tax - petitioner failed to file returns of income without reflecting the investment in the form of bank balance in a foreign bank account - by prosecuting a septuagenarian, who is also an industrialist will serve no purpose. The petitioner entitled for buying a peace subject to his agreeing to pay the compounding fee that may be imposed by the fourth respondent. The petitioner has been sufficiently dealt for his past dalliances by the respondent. - this was a fit case for compounding the offence considering the age of the petitioner and considering the fact that the petitioner has paid the tax interest and penalty - HC
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