Month: August 2018

The CBDT has vide Office Order No. 142 of 2018 dated 29.08.2018 ordered the promotion of several officers to the grade of Principal Chief Commissioner of Income-tax (level 17 in the pay matrix Rs. 2,25,000) w.e.f. the date of assumption of charge of the post. The CBDT has also vide Office Order No. 143 of 2018 dated 29.08.2018 ordered the transfer and posting of several Chief Commissioners of Income-tax with immediate effect and until further orders

The Central Action Plan 2018-19 provides that CsIT(A) will receive incentives if they enhance assessments, strengthen the assessment order and/or levy penalty u/s 271(1)(c). This move has been condemned by leading representatives of Industry and also by top tax professionals

The CBDT has vide Instruction No. 04 of 2018 dated 20th August 2018 issued guidelines for manual selection of returns for complete scrutiny during the financial year 2018-19

The CBDT has vide Instruction No. 03 dated 20th August 2018 issued instructions regarding the conduct of assessment proceedings through ‘E-Proceeding’ facility during FY 2018-19

It is well known that Assessing Officers spare no effort in their zeal to collect taxes from hapless taxpayers. They can stoop to any extent and level all sorts of allegations without any regard to the stature of the taxpayer or his track record of paying taxes. Sachin Tendulkar, the illustrious sporting champion, is the latest to fall victim to the exuberance of the AO to make additions for the flimsiest of reasons

The CBDT has vide order No. 137 of 2018 dated 23rd August 2018 appointed several Income Tax Officers to the grade of Assistant Commissioner of Income-tax in the pay matrix of Rs. 56,100 – 1,77,500 for a period of one year with immediate effect or until further orders

The CBDT has issued Circular No. 5/2018 dated 16th August 2018 by which it has issued an important clarification on the immunity provided u/s 270AA of the Income-tax Act, 1961

ICAI, the governing body of Chartered Accountants, has used its immense negotiating power to secure access to CAs to top-notch tax portals at heavy discounts

The CBDT has issued a directive dated 20th August 2018 by which it has carved out several exceptions to its Circular No. 3 of 2018 dated 11th July 2018 relating to the withdrawal/ non-filing of appeal by the Department in low-tax effect appeals. The CBDT has specified several instances where appeals have to be filed and prosecuted despite their low-tax effect

The Tax Bench of the Hon’ble Bombay High Court with effect from 20th August 2018 is as follows