The CBDT has issued an Office Memorandum dated 25th May 2017 by which it has constituted a committee of high-ranking officials to study the nature and extent of arrears of direct taxes and to suggest measures for expeditious recovery of the outstanding dues. The terms of reference of the Committee are clearly spelt out. The Committee is required to submit its report by 15th July 2017

The CBDT has issued Order No. 80 of 2017 dated 18.05.2017 by which it has directed the postings and transfers of several officers in the grade of Assistant And Deputy Commissioners Of Income-tax with immediate effect and until further orders

Yet another senior IRS officer has fallen into the clutches of the CBI. He demanded a bribe of Rs. 15 crore and was caught red-handed accepting the first installment of Rs. 1.25 crore

Eminent jurist Arvind Datar has delivered a talk in which he has severely criticized the introduction of Goods & Service Tax Act (GST), GAAR and POEM. He has argued that these legislative measures will cause enormous hardships to the taxpayers and will make India a less attractive destination for foreign investors. He has given cogent reasons in support of his propositions

In a shocking incident, an IRS officer who is presently serving as a CIT(A), a Chartered Accountants and senior officials have been arrested by the CBI on allegations of demanding, and accepting, a bribe for passing favourable orders

The CBDT has issued Circular No. 16/2017 dated 25.04.2017 in which it has considered the issue whether income arising from letting out of premises /developed space along with other amenities in an Industrial Park/SEZ is to be charged under head ‘Profits and Gains of Business’ or under the head ‘Income from House Property’. The issue has been the subject manner of litigation in recent years. The assessees claim the letting out as business activity and that the income arising therefrom has to be charged to tax under the head ‘Profits and Gains of Business’. The Assessing Officers hold it to be chargeable under the head ‘Income from House Property’

The CBDT has issued Circular No. 15 of 2017 dated 21.04.2017 to clarify whether the removal of Cyprus from the list of notified jurisdictional areas under section 94A of the Income-tax Act, 1961 is with retrospective effect or not

The CBDT has vide Order No. 55 of 2017 dated 24.04.2017 ordered the postings and transfers of several officers in the grade of Assistant / Deputy Commissioner of Income Tax with immediate effect and until further orders.

The CBDT has vide Order No. 56 of 2017 ordered the postings and transfers of several officers in the grade of Additional/ Joint Commissioner of Income Tax with immediate effect and until further orders

Hon’ble Sushil Chandra, the Chairman of the CBDT, has addressed a letter dated 24.04.2017 to the top brass of the Income-tax department in which he has lamented that the CBDT is one of the Government Departments which receives the maximum number of public grievances. He has also lamented the fact that the grievances are not attended to by the AOs and remain pending for inordinately long periods. Presently, there are 3431 pending grievances which include a large number of overdue grievances. The CBDT Chief has directed the top brass of the department to personally monitor the disposal of the grievances and warned that it will be given due importance while evaluating the annual performance of the officers