Compounding of offences in lieu of penalty

Compounding of offences in lieu of penalty.-

1. (1) Notwithstanding anything contained in this Act, on an application by a person admitting the offence committed by him under sub-section
2. (5) or clause
   • (b) of sub-section
3. (6) of section 33 or sub-section
4. (7) or sub-section
5. (13) of section 35, the Assessing Authority or officer authorized, as the case may be, may accept compounding amount from such person in lieu of penalty in the manner as may be prescribed,-
   • (a) in case of offences committed in sub-section
6. (7) or sub-section
7. (13) of section 35, equal to the amount of four times of the tax leviable on the goods involved or twenty five per cent of the value of such goods, whichever is less;
   • (b) in case of offences committed in sub-section
8. (5) or clause
   • (b) of sub-section
9. (6) of section 33, equal to the amount of tax avoided or evaded.
10. (2) Notwithstanding anything contained in section 37, no appeal shall lie or subsist against an order of compounding of offences made under this Act.