Month: April 2019

Download Report Of Committee On Profit Attribution | CBDT Invites Comments

In view of the the significance of issues relating to attribution of profits to a permanent establishment as well as the need to bring greater clarity and predictability in the applicable tax regime, the CBDT had formed a Committee to examine the existing scheme of profit attribution to PE under Article 7 of DTAAs and recommend changes in Rule 10 of the Income-tax Rules, 1962. The Committee has now submitted its report. The CBDT has sought suggestions/comments of the stakeholders and the general public on the report

EC Slams CBDT For ‘Insolence’, CBDT Stays Defiant. Claims Recovery Of Rs. 280 Cr Of Black Money From Politicians

The CBDT is known to be a law unto itself. No amount of strictures from the Courts has any impact on it. Now, it has come into the bad books of the Election Commission with the latter expressing “deep sense of anguish” about the “casual and trivial” approach of the CBDT. The EC has expressed its “extreme displeasure” at the “Stark violation of established protocol

CBDT Reveals Action Plan For April To June 2019

The CBDT has released a ‘Central Action Plan’ for the first Quarter i.e. (April 2019 to June 2019) of the FY 2019-20. The Plan has set out in clear terms the ‘Key Result Areas’ that all AOs and CsIT(A) are expected to accomplish. Specific targets with regard to the completion of assessments, audit objections, recovery of arrears, disposal of appeals are set out

CBDT Circular Reg Extension Of Time U/s 286(4) r.w. Rule 10DB(4)

The CBDT has issued Circular No. 7 of 2019 dated 8th April 2019 by which it has exercised its powers u//s 119 of the Act and extended the period for furnishing the report u/s 286(4) of the Act read with Rule 10DB(4) of the Rules.

New Chief Justice + 5 Advocates Appointed Judges To Bombay High Court

A new Chief Justice has been appointed to the Bombay High Court. In addition, five advocates have been recommended for appointment as judges to the Bombay High Court.

Congress Manifesto Promises To End Tax Terrorism + Enhance Reservation For SC/ST/OBC In Judiciary

The Congress party has released its manifesto for the elections 2019. One of the striking promises made in the manifesto is that the extraordinary discretionary powers given to the tax department which has led to ‘tax terrorism’ will be ended. Several reforms for the judiciary have also been announced including the enhancement of representation at all levels of the judiciary for women, SC, ST, OBC, minorities and other under-represented sections of society

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