Guidelines – In case of persons holding undisclosed foreign bank accounts/ assets

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..... matter has been examined in consultation with the Special Investigation Team (SIT). 2. In this regard, the undersigned is directed to convey the following: (i) Such cases can be compounded only after filing the Prosecution complaints) and shall not be compounded at the stage of show-cause notice and/or without filing the complaint in the court. (ii) The cases in which the assessee ha .....

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..... action. 4. It is clarified that there is no provision for compounding of offences under the newly enacted Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. Consequently, the above clarifications will not apply to cases coming under the purview of this Act. LETTER [F. NO.285/90/2013 IT(INV.V)/212] - Circular - Trade Notice - Public Notice - Instructi .....

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