Compounding of offences

Tax198729 of 30 sections available

Statutory text

(1) Subject to such conditions as may be prescribed, the assessing authority may, either before or after the institution of, proceedings for an offence under this Act, permit any person, who has committed or is suspected to have committed the offence to compound the offence on payment of such sum not exceeding one thousand rupees or double the amount of tax to which the offence relates whichever is greater.
(2) On payment of such sum as may be determined by the assessing authority under sub-section (1), no further proceedings shall be taken against the person in respect of the same offence.
(3) Any order passed or proceeding recorded by the assessing authority under sub-section (1), shall be final and no appeal or application for revision shall lie therefrom.

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