CBDT Cannot Impose Limitation Period for Compounding through Guidelines when Income Tax Act does not Prescribe One: Bombay HC [Read Order]

Bombay High Court ruled that CBDT guidelines cannot impose a time limit for compounding when the Income-tax Act does not prescribe one

By Kavi Priya - On March 6, 2025 4:35 pm - 2 mins read

CBDT compounding guidelines - Income Tax Act - taxscan

In a recent ruling, the Bombay High Court held that the Central Board of Direct Taxes (CBDT) cannot impose a limitation period for filing compounding applications through its guidelines when the Income Tax Act, 1961, does not prescribe any such restriction. L. T. Stock Brokers Pvt. Ltd. filed a writ petition challenging the Chief Commissioner’s…

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