756/CBDT. - Income Tax - 756/CBDT

INSTRUCTION NO. 756/CBDT Dated : September 10, 1974 Section(s) Referred: 276 Statute: Income - Tax Act, 1961 Reference is invited to Board's Instruction in F. No. 285/82/73-IT(Inv) dated 3rd July, 1973. 2. It has come to the notice of the Board that while sanding proposals for compounding prosecution for technical offences, Commissioners of Income-tax do not report whether or not they have examined the proposals in the light of the Board's instruction No. 563 dated 3rd July, 1973. This causes avoidable correspondence between the Board and the Commissioner of Income-tax and also delay in taking decision on the proposals. 3. The Board, therefore, desire that while sending composition proposals for technical offences in future, it should invariably be reported whether the proposals have been examined in the light of the said instruction, whether the five conditions laid down for compounding of offences are satisfied and whether the offences deserve to the compounded.