The CBDT has vide Office Order No. 184 of 2019 dated 26.08.2019 ordered transfer/postings (Local changes) of the officers in the grade of Joint Commissioner/Additional Commissioner of Income Tax with immediate effect and until further orders
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Year: 2019
CBDT Denies Rumors Regarding Extension Of Due Date For Filing Return
The CBDT has issued a statement that an order being circulated on social media pertaining to extension of due dt for filing of IT Returns is not genuine. Taxpayers have been advised to file Returns within the extended due date of 31.08.2019
CBDT Clarifies That Monetary Limits On Dept Appeals Applies To Pending Appeals & Also Stipulates Time Limit For Withdrawal Of Appeals
The CBDT has issued a directive dated 20th August, 2019 in which it has clarified that the enhanced monetary limits stipulated in Circular No. 17/2019 dated 8th August, 2019 is applicable to all pending SLPs/ appeals/ cross objections/references. The CBDT has also directed that all such pending appeals within the revised limits should be withdrawn on or before 31.10.2019. A fortnightly report as to progress on withdrawals has to be submitted by the officers on the field
Transfers Of Five Hon’ble Members Of The ITAT (August 2019)
Pursuant to the consultations with the Collegium of the Income Tax Appellate Tribunal, consisting or the President and two senior most Vice Presidents, five Hon’ble Members have been transferred in the same capacity, in public interest, with effect from 6th September 2019
CBDT Order Of Transfers & Postings Of Addl And Joint Commissioners Of Income-tax
The CBDT has vide Office Order No. 171 of 2019 dated 14.08.2019 ordered the transfers and postings of several officers in the grade of Additional and Joint Commissioners of Income-tax
CBDT Bans Issue Of Notice, Order Etc Without DIN To Ensure Proper Audit Trail
The CBDT has issued Circular No. 19/2019 dated 14th August 2019 by which it has exercised its powers under section 119 of the Income-tax Act, 1961 and directed that no communication shall be issued by any income-tax authority relating to assessment, appeals, orders. statutory or otherwise, exemptions, enquiry, investigation. verification of information, penalty, prosecution, rectification, approval etc. to the assessee or any other person, on or after the 15th day of October, 2019 unless a computer-generated Document Identification Number (DIN) has been allotted and is duly quoted in the body of such communication. Some exceptions to the rule have also been stated
Transfer Of ITAT Member (August 2019)
Pursuant to an order dated 9th August 2019 passed after consultations with the Collegium of Income Tax Appellate Tribunal, consisting of the President and two senior most Vice Presidents, a Judicial Member of the ITAT has been transferred on account of administrative exigencies and in public interest, with effect from 23rd August, 2019.
Tax Officials Who Harass Honest Taxpayers Will Be Dismissed From Service: PM Modi
Prime Minister Narendra Modi has sent the chilling warning to all unscrupulous tax officials who harass honest taxpayers with a view to extorting money from them that their shenanigans will no longer be tolerated but they will instead be summarily sacked from service
S. 56(2)(viib): CBDT Clarification Reg Valuation Of Shares Of Startup Companies
The CBDT has issued a directive dated 9 August, 2019 by which it has provided clarification with respect to valuation of shares of Startup Companies involving application of Section 56(2)(viib) of the I. T. Act, 1961. The clarification is intended to mitigate the hardships faced by start-up companies
S. 56(2)(viib): CBDT Circular Reg Assessment Of Start up Companies
The CBDT has vide Circular No. 16/2019 dated 7th August 2019 provided clarification with respect to assessment of Start up Companies involving application of section 56(2)(viib) of the Income-tax Act, 1961. The CBDT has made a clear demarcation of the inquiry or verification which can be made by the AO is cases relating to “complete scrutiny”” and “limited scrutiny”
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