CBDT issued new norms

Prelims level : Mains level :
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  • The Central Board of Direct Taxes issued new norms for compounding of offences on 14 June 2019.
  • The new guidelines have exclusion provisions, under which, offences under the Black Money and Imposition of Act, 2015, cannot be compounded in normal cases.
  • This includes money laundering cases.
  • Compounding means that the authorities agree to not prosecute offenders in return for a consideration.
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