Category: Others

CBDT Circular Explains Law On Computation Of S. 10A Deduction

The CBDT has issued Circular No. 4/2018 dated 14th August 2018 in which the law relating to computation of admissible deduction u/s 10A of the Income-tax Act, 1961 has been explained in the light of the judgement of the Supreme Court in CIT vs. HCL Technologies Ltd (2018) 404 ITR 719

Tax Bar Mourns Untimely Demise Of Eminent Jurist Palkhivala & Pays Homage

The Tax Bar has mourned the untimely demise of eminent jurist Palkhivala. Leading tax lawyers have recollected his stellar contribution to the development of law and furthering the cause of justice

CBDT Transfers Joint, Additional, Assistant & Deputy Commissioners Of Income-tax

The CBDT has vide Office Orders Nos. 128 and 130 of 2018, dated 7th & 8th August 2018 respectively, ordered the transfers and postings (local changes) of several officers in the grade Joint, Additional, Assistant & Deputy Commissioners of Income-tax with immediate effect and until further orders

CBDT Sleuths Bust Rs. 4300 Cr Black Money & Benami Transactions Scam

The Ministry of Finance has announced that due to intensive efforts undertaken by the Income-tax Department, provisional attachment has been made in more than 1600 cases of properties under the Benami Transactions (Prohibition) Act, 1988. The value of properties under attachment is more than Rs. 4,300 crore. Details are also given of the prosecution proceedings initiated by the Income-tax Department

Book Release: Law, Practice, Procedure and Conventions In The ITAT + Frequently Asked Questions

ITAT Bar Association, Mumbai, and the All India Federation of Tax Practitioners have jointly published a Book titled “Income Tax Appellate Tribunal – A Fine Balance – Law, Practice, Procedure and Conventions – Frequently asked questions”, dedicated to Padmavibhushan Late Dr. N. A. Palkhivala, Sr. Advocate

CBDT Warns AOs To Adhere To Time Limits For Issue Of TDS Certificates U/s 195 & 197

The CBDT has issued an Office Memorandum dated 26th July 2018 in which it is stated that there are several instances where the time-limit of 30 days stipulated in the Citizens Charter for issue of TDS certificates have been breached and there is inordinate delay.

The CBDT has directed AOs that the aforesaid time-limit must be adhered to scrupulously. It is made clear that any delay without valid reasons will be viewed seriously and the CIT concerned will be held accountable

CBDT To Discipline “Least Performing” CsIT(A)

The CBDT has issued a directive to the PCsIT seeking details of the “least performing” CsIT(A). It is not specified as to what constitutes “least performing”. Presumably, the reference is to the number of appeals disposed of by the Ld CsIT(A) vis-à-vis the targets and achievement. Presumably, the defaulting CsIT(A) will be subject to disciplinary action

Tax Dept Will Provide World Class Services To Taxpayers And Rise To New Heights Of Glory: CBDT Chairman

Hon’ble Sushil Chandra, the Chairman of the CBDT, has addressed a letter dated 24th July 2018, in which he has stated that the Income-tax department has transformed itself from an enforcement agency to a citizen-centric organisation, ready to adopt new technology and innovations in line with international best practices. He has pointed that the department has continued to focus on and expand its taxpayer services as it endeavours to provide “world class services to taxpayers“. He has called upon all officials to work with “the same zeal, integrity, competence and dedication” as they have done in the past and take the Department to “even greater heights of glory

CBDT Reveals Game Plan For Tackling High-Demand Appeals In Courts And ITAT

The CBDT has revealed in the Central Action Plan 2018 that the total demand stayed by Courts/ITAT as on 01.04.2018 is a whopping sum of Rs. 87,035 crore. It is pointed out that the appeals have been pending for several years and Departmental Representatives/Counsel are unable to press for disposal in the absence of adequate resources and support from the field formations. In order to tackle the back-log of litigation, the CBDT has formulated a concerted and focused strategy. The CBDT has also stipulated time limits within which the targets are required to be completed

CBDT Order Transferring & Posting Additional & Joint Commissioners Of Income-tax

The CBDT has vide Order No. 118 of 2018 dated 24th July 2018 directed the transfers and postings (local changes) of several officers in the grade of Additional and Joint Commissioner of Income-tax with immediate effect and until further orders


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