Month: October 2017

The CBDT has issued Circular No 25 of 2017 dated 23rd October 2017 by which it has provided clarification related to guidelines for establishing ‘Place of Effective Management’ (PoEM) in India. The CBDT has in particular addressed concerns that as per the extant guidelines, PoEM may be triggered in cases of certain multinational companies with regional headquarter structure merely on the ground that certain employees having multi-country responsibility or oversight over the operations in other countries of the region are working from India, and consequently, their income from operations outside India may be taxed in India

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The CBDT has vide Order No. 181 of 2017 dated 24th October 2017 promoted several officers in the grade of Commissioner of Income-tax to the grade of Principal Commissioner of Income-tax (level 15 in the pay matrix of Rs. 1,82,200 to 2,24,100) against the panel year 2016-17 w.e.f. the date of assumption of charge of the post and until further orders

The Ahmedabad Bench of the ITAT has issued an office order dated 17th October 2017 in which it has listed out several steps that are required to be taken by litigants and the registry so as to lead to a “paperless court”. Tax professionals have welcomed the initiative and urged other Benches across the Country to implement it

Vide Finance Act, 2017, a new clause (ab) was inserted in sub-section (1) of section 12A of the Income-tax Act, 1961 (‘the Act’) w.e.f 01.04.2018 to the effect that where a trust or an institution, which has been granted registration under sections 12A or 12AA of the Act has subsequently adopted or undertaken modification of the objects and such modification does not conform to the conditions of such registration, then such trust or institution shall be required to obtain registration again by making an application within a period of thirty days from the date of such adoption or modification of the objects. The CBDT has issued a draft notification to amend Rule 17A and Form 10A and has invited comments from stakeholders and the general public

Ms. Madhumita Roy had earlier been found ineligible by the ACC for appointment as a Member of the ITAT on the ground that she did not submit the income tax return for the year 2010-2011. The same was confirmed by the CAT. However, the Calcutta High Court held that this finding was erroneous. It directed the ACC to consider Ms. Madhumita Roy’s candidature afresh for appointment to the post of Judicial Member under unreserved category

The CBDT has issued Instruction No. 9/2017 dated 11th October, 2017 in which it has explained the scope of clause (vi) of sub-section (a) of section 143(1) of the Income-tax Act, 1961 (`Act’) as introduced vide Finance Act, 2016, w.e.f. 01.04.2017. The said provision prescribes that while processing the return of income the total income or loss shall be computed after making adjustment of addition of income appearing in Form 26AS or Form 16A or Form 16 (the three Forms) which has not been included in computing the total income in the return

The CBDT has issued a directive dated 12th October 2017 by which it has referred to the Central Action Plan for FY 2017-18 and directed that all pending appeals having tax effect of more than Rs. 50 crore have to be disposed of by the CsIT(A) by 31st December 2017

The CBDT has issued order no. 177 of 2017 dated 10th October 2017 relating to the appointment of Income Tax Officers as Assistant Commissioners of Income-tax. Vide another order no. 178 of 2017 dated 12th October 2017, the CBDT has dealt with the promotion of IRS officers to the grade of Joint Commissioner of Income-tax

Advocate Sashank Dundu has explained the measures to be taken when an assessee receives a notice u/s 148 from the Assessing Officer seeking to reopen the assessment. He has cited all the relevant and important case laws on the subject. The guide will prove invaluable to all taxpayers and tax professionals

Further to the directive regarding conduct of assessment proceedings electronically in time-barring scrutiny cases, the CBDT has prescribed the format in MS Word of letter for consent of taxpayers and letter for migration of email based E-Assessment in E-Proceedings