Reference has been invited to the Circular No. 25/2019 F. No. 285/08/2014-IT(Inv. V)/350 which was made on 9th September 2019, in which the condition for filing of applications for compounding of offences under the Income-tax Act, 1961 (the Act), towards being filed within 12 months from filing of complaint in the court, was relaxed through the Central Board of Direct Tax still 31st December 2019, as a one-time measure.
2. The CBDT had received references from the field formation, which includes requests made through the ICAI chapters, in which, it has been brought to the notice of CBDT that the taxpayers could not been able to avail the benefit of the one-time relaxation window because of the genuine hardships.
3. With respect to giving a final opportunity to such taxpayers, and to lessen the pendency of existing prosecution matters before the courts, the CBDT while exercising its powers under section 119 of the Act, along with the Explanation below sub-section (3) of section 279 of the Act, had issued this Circular, whereby para 4.1 i) of the Circular No. 25/2019 F. No. 285/08/2014-IT(Inv. V)/350 which was made on 9th September 2019 stands modified as under: “Such application would be filed before the Competent Authority that is the Pr. CCIT/CCIT/Pr. DGIT/DGIT concerned, on or before 31st January 2020.”
4. It has been clarified that all other prescriptions or conditions of the Circular No. 25/2019 would remain unchanged as well as shall be applicable towards all such applications.
5. The Hind version would follow.
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