Compounding of offences.

Tax198741 sections

Statutory text

(1) The assessing authority may, either, before or after the institution of proceedings for an offence under this Act, permit any assessee, charged with the offence to compound the offence on payment of such sum, not exceeding five thousand rupees or double the amount of tax recoverable, 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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