The CBDT has issued Office Memorandum dated 9th May 2019 in which it has fairly decided to accept the verdict of the Bombay High Court in Chamber of Tax Consultants v. CBDT (2019) 263 Taxman 551 that the policy of grant of “incentives” to CsIT(A) for making enhancement and levying penalty transgresses the exercise of quasi-judicial powers & is wholly impermissible and invalid u/s 119. The Court held that “Incentives” have the propensity to influence the CsIT(A) and they will be tempted to pass an order in a particular manner so as to achieve a greater target of disposal. The CBDT has withdrawn the credit already granted to the CsIT(A)
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Year: 2019
CBDT Circular Clarifies Law Reg Filling-Up Of ITR Forms For AY 2019-20
The CBDT has issued Circular No. 18 of 2019 dated 8th August, 2019 in which it has provided important clarification in respect of filling-up of the ITR forms for the Assessment Year 2019-20. The clarification is in the nature of questions and answers and cover a wide-ranging spectrum of issues. The circular is expected to clear doubts in the minds of taxpayers and tax professionals
CBDT Further Enhances Monetary Limits For Filing Appeals By Dept
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Posted in All Information, ITAT related, Others, Procedures/Guidelines, Supreme Court/High Court related
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The CBDT has vide Circular No. 17/2019 dated 8th August 2019 further enhanced the monetary limits for filing of appeals by the Department before the Income Tax Appellate Tribunal (ITAT), High Courts and SLPs/appeals before Supreme Court
Download The Finance (No. 2) Act, 2019
The Finance (No. 2) Act, 2019 received the assent of the President on the 1st August, 2019, and is now available for download
Change In Constitution Of Bombay High Court’s Tax Bench w.e.f. 13.08.2019
There will be a change in the constitution of the Bombay High Court’s Tax Bench w.e.f. 13.08.2019
Imp CBDT Clarification Reg Disclosure Of Long-Term Capital Gain In Income Tax Return
The CBDT has issued an important clarification regarding the requirement to furnish scrip wise details of long term capital gains in Schedule 112A and 115AD(1)(iii)
CBDT Demands 100% Disposal Of Appeals By CsIT(A)
The CBDT has sent the clear signal in the Central Action Plan 2019-20 that it will no longer tolerate the lethargy of CsIT(A) in the matter of disposal of appeals. It has pointed out that huge tax demands are locked up in these appeals. It has stipulated that 100% of appeals involving demands of Rs. 50 crore should be disposed off
ITAT Indore Bench Celebrates Golden Jubilee
Indore Bench of ITAT was set up on 2nd June 1969 and completed glorious 50 years discharging its function efficaciously and effectively in the justice delivery mechanism on direct tax matters. There have been several landmark decisions which have held their fort right up to the Apex Court
Reduce Court Holidays To Improve Efficiency & Reduce Pendency Of 3.5 Cr Cases: Economic Survey 2019
The Economic Survey 2019 has identified several root causes for the mammoth pendency of 3.5 crore cases in Courts. It has offered valuable suggestions for improving efficiency, which includes reducing the number of holidays that the Courts merrily take at the cost of the poor litigant
Download Finance (No. 2) Bill 2019
The Finance (No. 2) Bill 2019 as presented in Parliament today is available for download
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