The CBDT has issued an Office Memorandum dated 15th September 2014 pointing out that Suspicious Transaction Reports (STRs) constitute a strategically important source of information for the Income Tax department. It is admitted that, however, the department has not been able to investigate all STRs promptly. With a view to take steps for better and quicker investigation in available STRs, the CBDT has invited feedback from the field officers on how the process can be made more effective

Vide Order No. 154 of 2014 dated 09.09.2014, the CBDT has ordered the transfer and posting of several officers in the grade of Assistant/ Deputy Commissioners of Income-tax with immediate effect and until further orders.

The CBDT has issued Instruction No. 6 of 2014 dated 02.09.2014 and announced the procedure and criteria for compulsory manual selection of cases for scrutiny for FY 2014-15. The guidelines appear to have been issued pursuant to the direction of the Delhi High Court in Joginder Pal Gulati vs. OSD – CPIO

The CBDT has issued an Office Memorandum dated 22.08.2014 in which it has pointed out that some AO’s issues notices to taxpayers/ witnesses/ representatives etc. indicating a standard time of appointment. Thus, many persons called for hearing etc on a day by an officer are given the same time for appearance and the persons are made to wait for their turn. It is pointed out that such actions, apart from causing avoidable inconvenience to the taxpayers/ witnesses/ representatives etc cause great embarrassment to the Government. All officers have been advised to strictly maintain the appointment schedule in spirit with the Citizen’s Charter, 2014 of the Department which specifically provides that the Department shall endeavour “to adhere to the schedule of appointments with taxpayers”. All Supervisory officers, i.e. the CCsIT, CsIT and the Addl. CsIT have been requested to ensure that officers reporting to them strictly comply with this instruction and avoid fixing multiple appointments at the same time. Instances of disregard to these instructions may be viewed seriously, it is added

It may be recalled that in Vodafone International vs. UOI 341 ITR 1 the Supreme Court held that a transfer of shares of an offshore company would not chargeable to tax in India even if all the assets of the company were situated in India. To suprecede the judgement, a retrospective amendment was inserted in s. 9(1)(i) of the Income-tax Act, 1961 by the Finance Act 2012 w.r.e.f. 1.4.1962. The Shome Committee also issued a detailed report on the subject. The CBDT has now issued an Order dated 28.08.2014 u/s 119 of the Act and set up a Committee to implement the said provisions of s. 9(1)(i). The Order provides that if the AO considers that any income is deemed to accrue or arise in India before 1st April, 2012 through transfer of a capital asset situate in India in consequence of the amendments introduced with retrospective effect, he shall shall seek prior approval of the Committee for the proposed action. The Committee is required to examine the proposed action of the AO and, after providing an opportunity to the assessee, take a decision on the proposed action within 60 days. The Committee’s decision is binding on the AO

Vide Order No. 136 of 2014 dated 20.08.2014, the CBDT has ordered the transfer and posting of several officers in the grade of Additional/ Joint Commissioners of Income-tax with immediate effect and until further orders

Vide Order dated 20.08.2014, the CBDT has ordered the transfer and posting of several officers in the grade of Additional/ Joint Commissioners of Income-tax under the directorates of International Taxation & Transfer Pricing with immediate effect and until further orders

Vide Order No. 132 of 2014 dated 19.08.2014, the CBDT has ordered the transfer and posting of several officers in the grade of Deputy/ Assistant Commissioners of Income-tax with immediate effect and until further orders

In exercise of power conferred by section 119 of the Income-tax Act (‘the Act’), the Central Board of Direct Taxes (CBDT) hereby extends the due date for obtaining and furnishing of the report of audit under section 44AB of the Act for Assessment Year 2014-15 in case of assessees who are not required to furnish report under section 92E of the Act from 30th day of September, 2014 to 30th November, 2014

Vide Order No. 130 of 2014 dated 14.08.2014 the CBDT has transferred and posted several officers in the grade of Additional/ Joint Commissioner of Income Tax with immediate effect