Vide Notification No. 37/2012 [f.no. 142/18/2012-so(tpl)] dated 12-9-2012, the CBDT has inserted Rule 31ACB and Form No. 26A to prescribe the format in which the CA’s certificate should be obtained by the payee
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Change In Constitution Of The Bombay High Court’s Tax Bench w.e.f. 24.09.2012
Change In Constitution Of The Bombay High Court’s Tax Bench w.e.f. 24.09.2012
Shri Justice Altamas Kabir to be the new Chief Justice of India
Shri Justice Altamas Kabir will be the new Chief Justice of India. He will assume the new charge on 29th of this month
Cancellation Of Transfer Of Hon’ble Vice President Of The ITAT
The transfer of Hon’ble Dr O.K. Narayanan, Vice President, ITAT, Chennai Zone to ITAT, Kolkata Zone has been cancelled. Hon’ble Dr O.K. Narayanan wil hold additional charge of ITAT, Kolkata Zone w.e.f. 10 Sep 2012
Change In Constitution Of The Dispute Resolution Panel (DRP)
Vide Order No. 9/FT&TR/2012 dated 07.09.2012, the CBDT has directed a change in the Constitution of the Dispute Resolution Panel in Delhi, Mumbai, Ahmedabad, Pune, Kolkota, Bangalore, Hyderabad and Chennai with effect from 24.08.2012
Resolve All Arrears Demand Grievances Within 30 Days: CBDT To CCITs
Vide letter dated 3.09.2012 addressed to Chief Commissioners and Director Generals of Income-tax, the CBDT has stated that the issue of demand management continues to remain an area of grave concern and that in most of the cases demand uploaded is incorrect and incomplete. It is stated that such demands have been uploaded by AOs without due diligence and verification and that adjustment of such demands against refunds is leading to public grievances. The CBDT has directed that it is imperative to correct the demand data base and quickly rectify cases, where wrong adjustments have taken place and that all arrears demand grievances should be resolved within 30 days
Income-tax Department To Use Rs. 80 crores To Increase “Efficiency”
The Directorate of Income-tax has informed vide letter dated 27.08.2012 that the Finance Minister has approved utilization of 1% incremental revenue earned during F.Y. 2009-10 amounting to Rs, 80.63 crore. The amount has to be utilized for enhancing organizational efficiency, infrastructure and wherewithal. The Officers have been requested to forward their suggestions for utilization of the funds by 15th September, 2012. It has been clarified that the funds will be used for schemes that result in enhancing organizational efficiency, infrastructure and wherewithal of Income Tax Department and not for welfare schemes of employees
Transfers & Postings Of Commissioners/ Directors of Income-tax
Vide Order No. 177 of 2012 dated 04.09.2012, the CBDT has ordered the transfers and postings of several officers in the grade of Commissioner/ Director of Income-tax with immediate effect
Promotion of CITs To CCITs + Postings & Transfers
Vide Order No. 176 of 2012 dated 04.09.2012, the CBDT has promoted several 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 to 79,000 with immediate effect. By the same order, postings and transfers have also been ordered
Press Release On The Report Of The Expert Committee On GAAR
The Government had constituted an Expert Committee on General Anti Avoidance Rules (GAAR) to undertake stakeholder consultations and finalise the GAAR guidelines as well as a roadmap for implementation. The Committee, chaired by Dr. Parthasarathi Shome, has submitted its draft report after analysis of the GAAR provisions and noting the concerns
expressed by various shareholders. The draft report has recommended certain amendments in the Income-tax Act, 1961; guidelines to be prescribed under the Income-tax Rules, 1962; circular to clarify GAAR provisions along with illustrations; and other measures to improve tax administration specifically oriented towards GAAR matters
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