The CBDT has issued Circular No. 11/2019 dated 19th June 2019 in which it has provided important clarification regarding the non-allowability of set-off of losses against the deemed income under section 115BBE of the Income-tax Act, 1961 prior to assessment-year 2017-18

The Ministry of Finance and the CBDT have launched a massive “clean up” drive to get rid of alleged tainted and corrupt officers. After the “demotion” of two Joint Commissioners, 15 high-ranking IRS officials have been “compulsorily retired“. However, some influential personalities like Subramaniam Swamy and S. Gurumurthy are claiming that some “honest” officers have been wrongly targeted and implicated in “bogus” cases

The Directorate of Income Tax (System) has issued an important directive dated 18th June 2019 in which it has detailed the circumstances in which issue of paper refunds becomes necessary. With a view to expedite the refund process, a modification in the approval process for issue of paper refunds and Manual Order upload functionality In ITBA assessment module has been implemented. The safeguards required to be taken while issuing paper refunds have also been specified

The CBDT has issued a directive dated 14th June 2019 in which it has specified the guidelines for compounding of offenses under section 279(2) of the Act. The Guidelines supercede the earlier guidelines on the subject. The Guidelines shall come into effect from 17.06.2019 and shall be applicable to all applications for compounding received on or after the aforesaid date. Applications received before 17.06.2019 shall continue to be dealt with in accordance with the Guidelines dated 23.12.2014

The CBDT has signalled a zero-tolerance policy towards alleged tainted officials of the Income-tax Department. It has issued an Office Order dated 11th June 2019 in which it is stated that in view of pending disciplinary/vigilance cases against four Joint Commissioners of Income Tax, the Competent Authority has decided not to extend their term of ad-hoc appointment and they are reverted to their substantive post i.e. Deputy Commissioner of Income Tax with immediate effect

The CBDT has vide Order No. 116 of 2019 dated 20.05.2019 and Order No. 125 of 2019 dated 31.05.2019 ordered the posting and charges of Chief Commissioners of Income-tax (CCsIT)

The CBDT has issued a directive dated 24.05.2019 by which it has stipulated the budgetary target for the financial year 2019-20. The Budget target for each cadre-controlling Pr. CClT has been fixed keeping in view the revenue potential of the Region. The CCsIT have been directed to allocate the targets to the field units keeping in view the past performance and revenue potential of different charges

The CBDT has issued Circular No. 8 dated 10.05.2019 by which it has provided clarification regarding definition of “Fund Manager” under Section 9A(4)(b) of the Income-tax Act, 1961