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“
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
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.
The CBDT has issued a directive dated 28th March 2019 on the subject of verification of suspicious transactions in case of struck-off companies. Field authorities have been directed to verify deposits/withdrawals from the bank accounts of companies during the process of striking down and just before that especially during the period of demonetisation to check possible misuse of such companies for money-laundering activities
The CBDT has issued a letter dated 5th March 2019 in which the Standard Operating Procedure (SOP) for handling of cases related to substantial cash deposit during the demonetisation period has been prescribed. The CBDT has spelt out in clear-cut terms how the AO should frame a best judgement assessment in cases where the notice u/s 142(1) is not complied with by the assessee
The CBDT has vide Office Order No. 43 of 2019 dated 28th February 2019 stated that the President has appointed several Income Tax Officers to the grade of Assistant Commissioners of Income-tax. The CBDT has also vide Office Order No. 44 of 2019 dated 28th February 2019 extended the appointments of several Assistant Commissioners of Income-tax