The CBDT has issued Instruction No. 18/2013 dated 17.12.2013 stating that there are several instances where due to technical or other reasons the intimation in refund cases could not be sent to the assessees within the time limit prescribed in the second proviso to s. 143(1) of the Act. To alleviate the grievance caused to the assessee, the CBDT has exercised its powers u/s 119(2)(a) of the Act to extend the time frame prescribed in the second proviso to s. 143(1) and directed the AOs to grant the refund subject to conditions
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S. 40(a)(ia) TDS Disallowance: CBDT Issues Circular To Clarify Stand
The CBDT has issued a Circular No. 10/DV/2013 dated 15.12.2013 in which it has analyzed the controversy created by recent judgements on the question whether the term “payable” in s. 40(a)(ia) includes the amounts that have already been paid during the year or it refers only to the amounts outstanding as at the year end. It is noted that while the Special Bench of the Tribunal in Merilyn Shipping 136 ITD 23 (SB) and the Allahabad High Court in Vector Shipping has taken the view that the disallowance in s. 40(a)(ia) does not apply to amounts that are already paid, a contrary view has been taken by the Calcutta High Court in Crescent Export Syndicate/ Md. Jakir Hossain Mondal and the Gujarat High Court in Sikandarkhan Tunvar
CAG Exposes Defects In Law And Procedure Of Taxation Of Charitable Trusts
The Comptroller and Auditor General of India (“CAG”) has issued a hard-hitting report in which it has conducted a detailed study of the law and procedure relating to charitable trusts and identified all the short-comings therein
S. 10A/10AA/10B: CBDT Takes Stern View On Non-Compliance By AO Of Circular
The CBDT has issued Instruction No. 17/2013 (F.No.178/84/2012-ITA.I) dated 19.11.2013 in which it has noted that the Assessing Officers are not following the clarifications given in Circular No. 01/2013, dated 17.1.2013. In the said Circular, the CBDT has clarified various contentious issues relating to export of computer software and claim of deduction under sections 10A, 10AA and 10B of the Income-tax Act, 1961. In a stern tone, the CBDT has “advised” the Assessing Officers to follow the contents of Circular in letter and spirit and not to take a divergent view. It has also directed the Assessing Officers not to file further appeals in cases where orders were passed prior to the issue of the Circular
Promotion Of Commissioners To Chief Commissioners Of Income-tax + Transfers
Vide Order No. 237 of 2013 dated 16.12.2013 the CBDT has promoted 32 officers in the grade of Commissioner/Director of Income-tax to the grade of Chief Commissioner of Income-tax (CCIT) in the Pay Scale of Rs. 67,000- 79,000/- with effect …
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CBDT Orders Regarding Change In Jurisdiction And Constitution Of DRP
Vide Order No. 7/FT&TR/2013 dated 14.11.2013 and Order No. 8/FT&TR/2013 dated 18.12.2013 the CBDT has changed the constitution of the Dispute Resolution Panel (DRP) at Delhi, Mumbai and Hyderabad
CBDT Order U/s 119 Extending Due Date For Paying Advance-tax
The CBDT has issued an Order dated 13.12.2013 under section 119(2)(ia) of the Income-tax Act, 1961 extending the last date of payment of the December Quarter Instalment of Advance Tax for the financial year 2013-14 from 15th December 2013 to 17th December 2013 for all the assessees, Corporate and other than Corporates
CBDT Office Orders Reg Work Distribution Amongst Top Level IRS Officials
The CBDT has issued Office Orders dated 06.12.2013, 10.12.2013 and 13.12.2013 specifying particulars of the work allocated amongst the high-level officials such as the Joint Secretary (FT&TR-I), Joint Secretary (FT&TR-I1), Director (FT&TR-I), Director (FT&TR-II), Director (APA) etc
CBEC VCES Clarification On ‘Frivolous/Unnecessary’ Queries By Designated Authority
In connection with the Service Tax Voluntary Compliance Encouragement Scheme (VCES), the CBEC has issued Circular F. No. B1/19/2013-TRU dated 11.12.2013 cautioning the Designated Authority against raising “frivolous/unnecessary queries” as to various aspects of the VCES.
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List Of Potential Promotees To Post of Chief Commissioner Of Income-tax
The CBDT has vide letter dated 27.11.2013 released a list of 37 officers who are being considered for promotion to the grade of Chief Commissioner of Income-tax in the pay scale of Rs. 67,000 to 79,000 against the vacancies for the year 2013-14 (Regular DPC) and 2012-13 (Supplementary DPC)
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