The CBDT has issued a directive dated 27.08.2015 stating that in view of the judgement of the Supreme Court in CIT-VIII, Delhi Vs. Suman Dhamija holding that the monetary limits specified in Instruction No. 3/2011 dated 09.02.2011 shall apply only to appeals filed after that date and not to pending appeals, the department should file Miscellaneous/ Review Petitions to seek revival of the department’s appeals which have been dismissed on the interpretation that the said Instruction No. 3/2011 applies to pending appeals.

The CBDT has issued an order dated 31.08.2015 u/s 119 of the Income-tax Act to extend the due date for filing the return of income from 31.08.2015 to 07.09.2015, in cases of Income-tax assessees in the State of Gujarat

The Central Board of Direct Taxes (CBDT) has issued guidance notes dated 31.08.2015 on implementation of reporting requirements for the US law called “Foreign Account Tax Compliance Act” (FATCA). Under FATCA, foreign financial institutions that fail to give information about their American clients to US authorities would face 30 per cent withholding tax. FATCA provides for 30 per cent withholding tax on US source payments made to foreign financial institutions (FIs) unless they enter into agreement with Internal Revenue Service (IRS) to provide information about accounts held with them by USA persons or entities controlled by USA persons

The Chamber of Tax Consultants (CTC) has released a publication titled “The Black Money – Answers to 295 FAQs, Case Studies by Senior & Eminent Professionals”. The contributors to the publication are eminent legal experts such as Sr. Adv Ram Jethmalani, CA Yogesh Thar, Adv K. C. Singhal (Ex VP, ITAT), Adv R. P. Garg (Ex VP, ITAT), CA Nihar Jambusaria, CA Rashmin Sanghavi etc. The experts have meticulously analyzed the provisions of the law and explained all of its nuances and intricacies in an easy-to-understand format. A steep discount of 30% is being offered for all orders placed till 10.09.2015. Limited copies of the publication are available.

The CBDT has issued a Notification dated 17.08.2015 in which it has laid down rules on the computation of period of stay in India in certain cases. The rules come into effect with retrospective effect from 01.04.2015

The CBDT has issued a directive dated 14.08.2014 in which it has expressed concern that officers of the level of DCIT/ACIT are being nominated for representing cases before the Authority of Advance Rulings and that such officers are not able to effectively represent the Departmental view on complex issues

The CBDT has issued Circular No. 14/2015 dated 17.08.2015 in which it has provided important clarification on various issues related to grant of approval and claim of exemption u/s 10(23C)(vi) of the Income-tax Act, 1961