Mr. Roy, an Indian resident liable to collect tax under section 206C, failed to pay to the Central Government the tax collected by him from…

Mr. Roy, an Indian resident liable to collect tax under section 206C, failed to pay to the Central Government the tax collected by him from customers during the FY 2023-24. The Assessing Officer initiated prosecution proceedings against Mr. Roy on 24/07/2024 under section 276BB. Mr. Roy applied for Compounding of Offences on 17/08/2024 which was rejected due to non-payment of outstanding tax. Mr. Roy also filed an appeal with CIT(A) against the penalty imposed by the Assessing Officer. On 08/10/2024, Mr. Roy paid all outstanding tax demand including interest and penalty thereon. He again wishes to apply for Compounding of Offences under the new guidelines issued on 17/10/2024. You are required to answer the following questions in this regard: (A) Can Mr. Roy apply for Compounding of Offences under the new guidelines, when the compounding application was already rejected under the old guidelines? Also, is he eligible to apply for compounding of offences when the appeal against the penalty is pending before the CIT(A)? (B) By which date Mr. Roy needs to file the application for compounding under the revised (New) guidelines?