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

The Bombay HC ruled that CBDT cannot impose a limitation period for compounding through guidelines when the Income Tax Act does not prescribe one. This decision clarifies the limits of administrative guidelines. It underscores the importance of adhering to statutory provisions. This ruling reflects the court's emphasis on legal principles. It emphasizes the need for clear guidelines. The ruling aims to prevent undue restrictions.