643/CBDT. - Income Tax - 643/CBDT

INSTRUCTION NO. 643/CBDT Dated : January 8, 1974 Section(s) Referred: 276 Statute: Income - Tax Act, 1961 Reference is invited to para 4 of Board's Instruction No. 563 dated the 3rd July, 1973 on the above subject. It has been decided that it would be better not to prescribe any standard composition fees in respect of technical offences. Each case of compounding should be considered on its merits and the quantum of composition fees should be fixed having regard to all the circumstances including the gravity of the offence committed, the amount involved and the period of default.