Month: June 2017

CBDT Transfer &Posting Orders Of Additional, Joint &Principal CsIT

The CBDT has vide Order Nos. 110 and 111 of 2017, both dated 27.06.2017, ordered the postings and transfers of several officers in the grade of Additional, Joint and Principal Commissioner of Income-tax with immediate effect and until further orders

Ex Chief Justice &Eminent Legal Luminaries Slam Move By Govt To Curb Independence Of Tribunals

Hon’ble RM Lodha, the former Chief Justice of India, and other eminent legal luminaries, have voiced their opposition at the action of the Government in enacting the Tribunal Members Rules 2017. Under the said Rules, the Central Government has abrogated to itself the right to appoint, extend the tenure, and remove, the Hon’ble Members of the various Tribunals, including the ITAT. The luminaries are apprehensive that the appointments of Members of the Tribunal would no longer be impartial and independent and that the Hon’ble Members may be wary of taking bold decisions against the Government

Representation Of ITAT Bar Association, Mumbai, Against The Appointment Of Tribunal Members Rules 2017

The ITAT Bar Association Mumbai has made a detailed representation to Shri. Arun Jaitley, the Hon’ble Finance Minister of India, with respect to Part XIV of the Finance Act, 2017 and notification of the Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other conditions of service of Members) Rules, 2017 in so far as it concerns the Income Tax Appellate Tribunal

Representation Of All Gujarat Federation Of Tax Consultants Against The Appointment Of Tribunal Members Rules 2017

The All Gujarat Federation Of Tax Consultants has made a detailed representation to Shri. Arun Jaitley, the Hon’ble Finance Minister of India, with respect to Part XIV of the Finance Act, 2017 and notification of the Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other conditions of service of Members) Rules, 2017 in so far as it concerns the Income Tax Appellate Tribunal

CIC Hauls Up Income-tax Dept For “Complete Negligence And Laxity”And “Casual And Callous Approach”In Implementing High Court’s Directions

The Commission observed that there is complete negligence and laxity in the public authority in dealing with the RTI applications. It is abundantly clear that such matters are being ignored and set aside without application of mind which reflects disrespect towards the RTI Act, 2005 itself. The Commission expressed its displeasure on the casual and callous approach adopted by the respondent in responding to the RTI application. It was felt that the conduct of respondent was against the spirit of the RTI Act, 2005 which was enacted to ensure greater transparency and effective access to the information

CBDT Sets Up Task Force Of High Level Officers To Make Effective Assessments

The CBDT has issued an Office Memorandum dated 14th June 2017 by which it has set up a ‘task force’of high ranking officials of the Income-tax department. The task force has to recommend measures to implement recommendations made by another Committee on how to make ‘effective assessments’. The task force has to inter alia consider issues such as “taxpayer segmentation with differentiated treatment, creation of a new ecosystem for conducting scrutiny assessments characterized by end-to-end e-process for scrutiny assessment, flexible function-specific jurisdiction for certain actions and pre-verification of information mismatch before full-fledged scrutiny”and is required to draw up a “blue print”by 31st July 2017 for implementation of suggested recommendations

Appointment Of IRS Officers To Post Of Joint Commissioners Of Income-tax Extended

The CBDT has issued Order No. 105 of 2017 dated 16th June 2017 by which it has stated that the President has extended the ad-hoc appointment of several IRS Officers to the grade of Joint Commissioner of Income-tax from 1st April 2017 to 31st March 2018

CBDT Circular Explains Whether Trade Advances Constitute ‘Deemed Dividends’U/s 2(22)(e) Of The I. T. Act, 1961

The CBDT has issued Circular No. 19/2017 dated 12th June 2017 in which it has considered the important issue whether trade advances, which are in the nature of commercial transactions, would fall within the ambit of the word ‘advance’ in section 2(22)(e) of the Act and be assessable as “deemed dividends”

CBDT Circular Reg Applicability Of S. 194-I Of The Income-tax Act, 1961 To Remittance Of Passenger Service Fees (PSF) By Airlines To Airport Operators

The CBDT has issued Circular No. 21/2017 dated 12th June 2017 in which it has dealt with the important issue of applicability of the provisions of section 194-I of the I.T. Act, 1961 on remittance of Passenger Service Fees (PSF) by an Airline to an Airport Operator. The CBDT has considered the issue in the light of the judgement of the High Court of Bombay in CIT vs. Jet Airways (India) Ltd. (ITA No.1181 of 2014 dated 04.01.2017 where it was held that even though the normal meaning of the word ‘rent’ stood expanded, the primary requirement is that the payment must be for the use of land and building and mere incidental /minor /insignificant use of the same while providing other facilities and service would not make it a payment for use of land and buildings so as to attract section 194-I of the Act

CBDT Circular Reg Adjustment Of Seized Assets Against Existing Liability U/s 132B Of Ihe I.T. Act, 1961

The CBDT has issued Circular No.20/2017 dated 12th June 2017 in which it has dealt with the important issue of adjustment of seized assets/requisitioned assets against the amount of any existing liability under section 132B of the Income-tax Act, 1961

Top