A new Chief Justice has been appointed to the Bombay High Court. In addition, five advocates have been recommended for appointment as judges to the Bombay High Court.
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Year: 2019
Congress Manifesto Promises To End Tax Terrorism + Enhance Reservation For SC/ST/OBC In Judiciary
The Congress party has released its manifesto for the elections 2019. One of the striking promises made in the manifesto is that the extraordinary discretionary powers given to the tax department which has led to ‘tax terrorism’ will be ended. Several reforms for the judiciary have also been announced including the enhancement of representation at all levels of the judiciary for women, SC, ST, OBC, minorities and other under-represented sections of society
CBDT Directive Reg Verification Of Suspicious Transactions
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
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
Do Not Harass Taxpayers Or Be High-Handed With Them: New CBDT Chief To AOs
Hon’ble P. C. Mody, the newly appointed Chairman of the CBDT, has sent the clear message to all officials of the income-tax department that while maximizing the revenue collection is the immediate priority, the same has to be done “without any harassment or high handedness“. The learned Chairman has stipulated that the conduct of the officials should be impeccable, friendly, yet objective – without fear or favour – as the Dept moves towards becoming a non-adversarial regime
CBDT Revises Targets For Collection Of Corporate Tax In FY 2018-19
The CBDT has revised the target for collection of corporation tax for FY 2018-19. The region-wise targets are also specified. The revised targets are required to be further allocated amongst the charges within the jurisdiction of the PCsIT. The target for personal income-tax has remained unchanged.
CBDT Turns Heat On 100s Of Donors Who Claimed Deduction U/s 35(1)(ii) In Bogus Donation Racket
The CBDT has launched a crackdown on 100s of alleged unscrupulous assessees who claimed deduction u/s 35(1)(ii) by making donations to alleged bogus institutions. The CBDT has provided a list of the donors and directed that in order to curb the blatant misuse of the beneficial provision, appropriate remedial action with respect to the donors should be initiated by the AOs
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