The Finance Bill 2020 was presented in Parliament today, 1st February 2020. A copy of the same is available for download
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Posting Of Three Vice-Presidents Of ITAT
It was reported in December 2019 that the Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Legal Affairs for appointment of three officers to the posts of Vice-President in the Income Tax Appellate Tribunal (ITAT). The posting orders of the said three Vice-Presidents is as follows
Tax Advocate Approved For Appointment As Judge Of Bombay High Court
We are pleased to report that the Supreme Court Collegium, in its meeting held on 22nd January, 2020, has approved the proposal for elevation of an Advocate as Judge of the Bombay High Court
ITAT Slams Dept For Undue Haste In Recovery Of Disputed Demands
Hon’ble Income tax Appellate Tribunal in the case of Cleared Secured Services Pvt. Ltd. vs. Dy CIT SA No. 337/Mum/2019 in ITA No. 7302/Mum/2018 dated January 20, 2020 where an application for extension of stay of demand application is pending, and the department conducted the survey and attached the bank accounts, though the matter was heard and decision was awaited, the Hon’ble Tribunal heard the matter in the afternoon and same day passed the order restraining the revenue from further action. The Tribunal strongly condemned the revenue’s undue haste in recovering the demand
ITAT Announces Bench Non-Sitting Days During Jan To Dec 2020
The ITAT has issued a directive dated 15th January 2020 setting out the schedule of Bench non-sitting days during the period January to December 2020. The non-sitting days are on account of the Summer, Diwali and Winter holidays. The dates have been finalized in the light of consultation with the Zonal Vice Presidents
Change In Constitution Of Bombay High Court’s Tax Bench w.e.f. 20.01.2020
There will be a change in constitution Of Bombay High Court’s Tax Bench w.e.f. 20.01.2010. The revised constitution is as follows
CBDT Circular Explains Entire Law & Procedure Relating To TDS U/s 192 From Salaries
The CBDT has issued a comprehensive circular bearing no. 4/2020 dated 16th January 2020 in which the entire law and procedure relating to TDS u/s 192 from salaries has been explained
Computer Aided Selection Of Cases For Scrutiny (CASS): CBDT Reconstitutes Committee
The CBDT has vide Office Memorandum dated 03.01.2020 reconstituted the CASS Committee under the Chairmanship of Director General of Income Tax (Risk Assessment). The terms of reference for the CASS Committee are also stated and include analysis of suggestions received from field authorities, recommendation of modification or removal of existing rules, recommending changes in Income Tax Returns, Income Tax Forms, third Party information etc., to enable effective scrutiny selection
Compounding Of Offenses: CBDT Circular Extends Time For Filing Applications
The CBDT has vide Circular No. 1/2020 dated 03.01.2020 extended the time limit for filing of applications for compounding of offenses under the Income-tax Act, 1961. The extension has been granted with a view to give a final opportunity to taxpayers and to reduce the pendency of existing prosecution cases before the courts
S. 195 TDS Amendment: CBDT Invites Suggestions From Public
The CBDT has vide letter dated 31.12.2019 invited public consultation on the proposal for amendment of Income-tax Rules 1962, to insert new rule 29BA and Form 15E, to give effect to the amendment in section 195 of the Income-tax Act , 1961 (the Act) vide Finance (No.2) Act 2019
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