Vide Order No. 193 of 2012 dated 17.10.2012, the CBDT has ordered that several IRS officers in the grade of ACITs be promoted to the grade of DCITs
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Separate Benches For “International Taxation & Transfer Pricing” Cases In ITAT
In order to dispose of the pending appeals relating to International Taxation and Transfer Pricing matters generally involving high stakes, a Committee was constituted to offer suggestions. After elaborate discussion and deliberations among the participants and keeping in view the suggestions made by the representatives of the assesses and the department, the Committee decided to take certain steps. The recommendations offered by the said Committee have been approved by the Hon’ble President vide letter dated 6th September 2012 and all Benches have been requested to implement the same scrupulously
Download Shome Committee Draft Report On Vodafone Retrospective Law
Report of the Expert Committee on Retrospective Amendments made by the Finance Act, 2012 to Income-Tax Act, 1961 Relating to Taxation of Non- Residents on Indirect Transfer; Comments and Suggestions on the Draft Report to be submitted by 19th October, 2012
Transfers & Postings Of Commissioners/ Directors of Income-tax
Vide Order No. 186 dated 04.10.2012 the CBDT has ordered the transfers & postings of several officers in the grade of Commissioners/ Directors of Income-tax with immediate effect
Amendments to the Companies Bill, 2011 Approved By The Cabinet
The Cabinet has issued a Press Release dated 04.10.2012 setting out all the amendments to the Companies Bill, 2011 which have been approved
CBDT Notification Regarding Format of “Certificate of Tax Residency” For DTAA
S. 90 (4) of the Act, as inserted by the Finance Act 2013 w.e.f 1.4.2012 provides that an assessee, not being a resident, to whom an agreement referred to in sub-section (1) of s. 90 applies, shall not be entitled to claim any relief under a Double Taxation Avoidance Agreement unless a certificate, containing such particulars as may be prescribed, of his being a resident in any country outside India or specified territory outside India, as the case may be, is obtained by him from the Government of that country or specified territory. A similar provision has been inserted in sub-section (4) of s. 90A of the Act. Pursuant therto, the CBDT has issued Notification dated 17.09.2012 to insert Rule 21BA and Forms 10FA and 10FB specifying the manner in which the aforesaid Certificate of Tax Residency should be obtained
CBDT Expresses “Extreme Concern” After Supreme Court’s Criticism of Delay
Pursuant to the scathing criticism of the Supreme Court in DIT vs. Citibank N.A. on the “peculiar phenomenon” of delay in filing high stakes appeals and the directive that the concerned officials be hauled up, the CBDT has issued a letter dated 19.09.2012 expressing “extreme concern” and directing the CCITs & DGITs to impress upon the field formation to strictly adhere to the timelines laid down in Instruction No. 4 of 2011 & Instruction No. 7 of 2011. It has been made clear that excuses like heavy workload and leave are not acceptable. It has also been threatened that delay in filing appeals/ SLPs may attract administrative action
Book Release: Digest Of Case Laws (Direct Taxes) 2003-2011
The ITAT Bar Association and the All India Federation of Tax Practitioners have released a book titled “Digest of Case Laws (Direct Taxes) 2003-2011“. The salient features of the book are the following
Only High Court Judge To Be President Of CESTAT, VPs Post Abolished
Vide Notification dated 31.08.2012, the following changes have been effected in the CESTAT Members Service Conditions Rules. The principle terms of the changes are the following
Notification Regarding Appointment Of Hon’ble President Of The ITAT
In exercise of the powers conferred by section 252 of the Income-tax Act, 1961 (43 of 1961), the Central Government is pleased to appoint Shri H.L. Karwa, Vice-President of the Income Tax Appellate Tribunal, as President of that Tribunal in officiating capacity with effect from the forenoon of 1st September, 2012 and till the post is filled on regular basis
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