In view of the the significance of issues relating to attribution of profits to a permanent establishment as well as the need to bring greater clarity and predictability in the applicable tax regime, the CBDT had formed a Committee to examine the existing scheme of profit attribution to PE under Article 7 of DTAAs and recommend changes in Rule 10 of the Income-tax Rules, 1962. The Committee has now submitted its report. The CBDT has sought suggestions/comments of the stakeholders and the general public on the report
The CBDT is known to be a law unto itself. No amount of strictures from the Courts has any impact on it. Now, it has come into the bad books of the Election Commission with the latter expressing “deep sense of anguish” about the “casual and trivial” approach of the CBDT. The EC has expressed its “extreme displeasure” at the “Stark violation of established protocol“
The CBDT has released a ‘Central Action Plan’ for the first Quarter i.e. (April 2019 to June 2019) of the FY 2019-20. The Plan has set out in clear terms the ‘Key Result Areas’ that all AOs and CsIT(A) are expected to accomplish. Specific targets with regard to the completion of assessments, audit objections, recovery of arrears, disposal of appeals are set out
The CBDT has issued Circular No. 7 of 2019 dated 8th April 2019 by which it has exercised its powers u//s 119 of the Act and extended the period for furnishing the report u/s 286(4) of the Act read with Rule 10DB(4) of the Rules.