The CBDT has issued a directive dated 28th March 2019 on the subject of verification of suspicious transactions in case of struck-off companies. Field authorities have been directed to verify deposits/withdrawals from the bank accounts of companies during the process of striking down and just before that especially during the period of demonetisation to check possible misuse of such companies for money-laundering activities
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Month: March 2019
The Standards Of Professional Conduct And Etiquette (Code of Ethics)
ITAT being the Mother Tribunal, may impress other Tribunals to follow the good example set by ITAT. It is also desired that whenever a new Member is appointed,they may be provided the material which may contain code of ethics, guidance to be kept in view by the Members of the ITAT while drafting orders, conventions for Members of the ITAT etc
Change In Constitution Of Bombay High Court’s Tax Bench w.e.f. 11.03.2019
There will be a change in constitution Of Bombay High Court’s Tax Bench w.e.f. 11.03.2019. The revised constitution is as follows
CBDT Issues SOP Reg Handling Of Cash Deposit Cases & Making Best Judgement Assessment
The CBDT has issued a letter dated 5th March 2019 in which the Standard Operating Procedure (SOP) for handling of cases related to substantial cash deposit during the demonetisation period has been prescribed. The CBDT has spelt out in clear-cut terms how the AO should frame a best judgement assessment in cases where the notice u/s 142(1) is not complied with by the assessee
CBDT Order Reg Promotion Of ITOs To Assistant Commissioners Of Income-Tax
The CBDT has vide Office Order No. 43 of 2019 dated 28th February 2019 stated that the President has appointed several Income Tax Officers to the grade of Assistant Commissioners of Income-tax. The CBDT has also vide Office Order No. 44 of 2019 dated 28th February 2019 extended the appointments of several Assistant Commissioners of Income-tax
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