Hon’ble Sushil Chandra, the Chairman of the CBDT, has addressed a letter dated 7th March 2017 to the Principal Chief Commissioners of Income-tax in which he has bluntly observed that the work relating to the filing of prosecution complaints and disposal of compounding applications “is not upto the mark”. The learned Chairman has opined that prosecution proceedings can be successfully initiated in several cases of entry operators including those concerning bogus LTCG claims, cases rejected by Settlement Commission etc. He has directed the officers to put in their best and expedite filing of prosecution complaints and disposal of compounding applications
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Year: 2017
Supreme Court Slams Govt For Dragging Feet On Imp Issue Of Appt Of ITAT Prez And Vice-Prez
The Supreme Court has passed severe strictures on the inaction of the Government in appointing the President and Vice-Presidents of the ITAT. The very fact that you (Centre) are seeking three months shows that you are not serious about the issue. This tribunal brings you the money and you don’t want it. If the selection has been made, why don’t you finalise the issue within a month. How much time will you take? Reject all names if they are useless, but do something,” the Bench fumed
Download Guide To The Finance Bill 2017 Issued By The Chamber Of Tax Consultants (With Videos)
The Chamber Of Tax Consultants, which comprises of leading Advocates and Chartered Accountants, has released a publication which analyses all the provisions of the Finance Bill 2017 in an in-depth and systematic manner.
The USP of the publication is the fact that the discussion is arranged topic-wise. For example, Advocate Rahul Hakani has analyzed the entire proposed law on capital gains and joint development agreement. Likewise, CA Paresh Shah has examined the implications of the proposed amendments relating to international tax. CA Bhavesh Dedhia and CA Paras Gada have meticulously analyzed the provisions relating to transfer pricing. Several other contributors have also provided important insights into the other provisions of the Finance Bill 2017
CBDT Issues SOP For Verification Of Cash Transactions Relating To Demonetisation To Curb Malpractices & Tax Evasion
The CBDT has issued Instruction No. 03/2017 dated 21.02.2017 by which it has meticulously set out the Standard Operating Procedure (SOP) that has to be followed by the Assessing Officers for verification of cash transactions relating to demonetisation
New ITAT President Appointed Amidst Warm Farewell To Retiring President
Hon’ble Justice (Retd) Dev Darshan Sud was given a warm farewell on the occasion of his retirement from the post of Hon’ble President of the ITAT. The Government has appointed a new President in an officiating capacity
CBDT Promotes Officers To Post Of Principal Commissioner Of Income-Tax
The CBDT has vide Order No. 26 of 2017 dated 20.02.2017 promoted several officers to the grade of Principal Commissioner of Income Tax (HAG scale of pay (Rs. 67,000 – 79,0001-) (pre-revised) by maintaining their inter- se-seniority w.e.f. the date of assumption of charge of the post. The CBDT has also stated that the promotion of certain officers will be on notional basis from the date their juniors were promoted and actually from the date of assumption of charge of the post, whichever is earlier
Supreme Court Hauls Up High Court Judge For Alleged Contempt
In a historic and unprecedented decision, a seven judge Bench of the Supreme Court has initiated contempt of Court proceedings against a sitting judge of the High Court. The learned Judge has been barred from handling any administrative or judicial work. He has been directed to remain personally present in Court to show-cause and explain his conduct
Download Finance Bill 2017 With Key Highlights, Speech Of Finance Minister And Explanatory Memorandum
The Finance Bill 2017 was introduced today, 1st February 2017, in Parliament. A copy of the Finance Bill 2017, together with the key highlights, speech of the Hon’ble Finance Minister and the Explanatory Memorandum, is available for download
CBDT Orders Of Postings And Transfers Of Commissioners Of Income-Tax
The CBDT has vide Order Nos. 14 and 15 of 2017 dated 27.01.2017 ordered the posting and transfer of officers in the grade of Commissioner of Income-tax with immediate effect and until further orders
CBDT Orders Reg Promotion Of IRS Officers As Joint Commissioners Of Income-Tax
The CBDT has issued Order No. 12 of 2017 stating that the President has extended the ad-hoc appointment of several IRS officers to the grade of Joint Commissioner of Income-tax from 01.01.2017 to 30.06.2017.
The CBDT has also issued Order No. 13 of 2017 dated 25th January 2017 stating that the President has promoted several IRS officers to officiate on regular basis in the grade of Joint Commissioner of Income-tax in the pay band 3 – Rs. 15,600 – 39,100 + (7,600 – Grade Pay) (pre-revised) with immediate effect
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