Separate application for compounding of Income Tax offences by co-accused permissible: Delhi HC

Sumit Bharana Vs Union of India & Ors. (Delhi High Court) Delhi High Court held that co-accused permitted to apply separately for compounding of offences committed by a Company or HUF. Accordingly, matter remitted back to decide afresh in light of CBDT circular dated 17.10.2024. Facts- The petitioner was a director of the respondent no.5 company at the material time. He received the show cause notice dated 30.06.2016 u/s. 2(35) of the Act for the financial year (FY) 2012¬-13 and 2013-14, calling upon the petitioner to show cause as to why he should not be considered as the principal offic...