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Transfers of Hon’ble Members (Feb 2009)

The following Hon’ble Members have been transferred at their own request in the same capacity, to the Benches of the Income Tax Appellate Tribunal as shown against their names with effect from the afternoon of 27th February, 2009

Transfers of Hon’ble Members

Hon’ble Shri R.V. Easwar, Judicial Member, Vice President of the Bangalore Bench of the Tribunal has been transferred as Vice President of the Ahmedabad Bench with effect from 30th January 2009. Hon’ble Shri K. P. T. Thangal , Judicial Member, Vice President of the Lucknow Bench of the Tribunal has been transferred as Vice President of the Bangalore Bench with effect from 30th January 2009.

CBDT Circular on charitable institutions and mutual organisations

Therefore, where industry or trade associations claim both to be charitable institutions as well as mutual organizations and their activities are restricted to contributions from and participation of only their members, these would not fall under the purview of the proviso to section 2(15) owing to the principle of mutuality. However, if such organizations have dealings with non-members, their claim to be charitable organizations would now be governed by the additional conditions stipulated in the proviso to section 2 (15).

ITAT Bar Association – List of Managing Committee Members for the period 2009 – 2010

Click here to view the list of Managing Committee Members with their contact details

List of closed and restricted holidays for the Tribunal in year 2009

List of closed and restricted holidays for the ITAT

Promotion of Hon’ble Members

Hon’ble Shri R.P. Garg, Accountant Member, Vice President of the Delhi Bench of the Tribunal has been promoted as Senior Vice President with effect from 16th December 2008.

Hon’ble Shri D. Mammohan, Judicial Member, presently posted at Vishakapatnam, has been promoted as Vice President of the Chandigarh Bench of the Tribunal.

We wish the Hon’ble Members good luck.

Assessment of banks – Checklist for Deductions – regarding

In a recent review of assessment of Banks carried out by C&AG, it has been observed that white computing the income of banks under the head ‘Profit and Gains of Business & Profession’, deductions of large amounts under different sections are being allowed by the Assessing Officers without proper verification, leading to substantial loss of revenue. It is, therefore, necessary that assessments in the cases of banks are completed with due care and after proper verification. In particular, deductions under the provisions referred to below should be allowed only after a thorough examination of the claim on facts and on law as per the provisions of the I.T. Act., 1961

Revised system of Review of assessments

The present system of review of assessments by the Administrative Commissioner was introduced in 2002 subsequent to the restructuring of the Income tax Department. Under the existing system of Inspection also the Inspecting Officer was required to comment on selected assessment orders. As this was resulting in a duplication of the review function, it has been decided to do away with the requirement to give comments on selected assessment orders as part of the annual Inspections. It was also noticed that centralisation of review work with administrative Commissioners alone was resulting in inordinate workload with these officers, which was in turn affecting the quality of the Review reports. In view of these factors Board has decided to make a clear distinction between the objectives and the contents of the Annual Inspections and Reviews. It has also decided to lay down new guidelines for review of the assessment work of Officers having assessment jurisdiction

Judges supersession irks lawyers

No reasons were apparently given by the Collegium for the supersession of the three senior judges though it was hinted that “performance” and “conduct” may have played a part.

Crorepati ITO has 23 flats!

Not one to be cowed down when his representations met with Governmental apathy, Doctor filed a series of legal proceedings in Court, forcing the Central Bureau of Investigation out of its slumber. Forced to act, thanks to the vigilant supervision of the Court, the CBI filed a FIR dated 22.2.2007 against Ajay Kumar Singh and two others for offences punishable under sections 13(2) read with 13(1)(e) of the Prevention of Corruption Act, 1988 and Section 109 of the IPC. (Click here for the Court’s order)

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