Amount sought to be evaded means tax sought to be evaded: HC

M/s. Supernova System Private Limited Vs. CCIT (Gujarat High Court) CBDT circular issued on 23.12.2014 prescribes compounding fees for offense under section 276C(1) at 100% of the amount sought to be evaded. This para also starts with an expression ‘Section 276C(1)­- Wilful attempt to evade tax etc.’  The title of this para thus, is taken from the section itself and the compounding fee is to be computed at the rate of 100% of the amount sought to be evaded. Since this para does not contain any specification of ‘the amount sought to be evaded’, we may fall back on the ...