The CBDT has issued Notification dated 14.03.2015 to make rules relating to Roll Back of an Advance Pricing Agreement (APA). As per sub-rule (5) of the newly prescribed rule 10MA, where an application for entering into an advance pricing agreement has been filed prior to 1.01.2015, the request for rollback in the newly prescribed Form No. 3CEDA may be filed at any time on or before 31.03.2015. Similarly, where an advance pricing agreement has been entered into before 1.01.2015, the said form may be filed before 31.03.2015

The CBI has issued a press release stating that P. K. Sharma, the Chief Commissioner Income Tax, and Shailendra Bhandari, ITO, have been arrested for allegedly taking bribe of Rs 15 lakh. In two other press releases, the CBI has stated than an ITO in Mumbai and another in Lucknow have also been arrested for demanding and accepting a bribe of Rs. 10 lakh and Rs. 75,000 respectively. According to news reports, the team of CBI officials was allegedly attacked with fire extinguishers by tax officials in Lucknow, after the investigating agency arrested one of their colleagues for bribe-taking. Some CBI officers were injured and are being treated in hospital. The CBI has filed an FIR against the attackers

The Income Tax department has adopted the aggressive strategy of ‘naming and shaming‘ some large tax defaulters by publishing names of 18 entities who owe over Rs 500 crore tax to the exchequer

Prime Minister Narendra Modi a.k.a NAMO has come to the rescue of beleaguered taxpayers. According to a terse note dated 26th March 2015 addressed by Hon’ble Ms. Anita Kapur, Chairperson of the CBDT, to the Income-tax department, she and the Revenue Secretary had a conference with NAMO regarding the status of public grievances against the department. At the meeting, NAMO “expressed dissatisfaction about delays in responding to public grievances” by the officers and “the harassment meted out to the taxpayers and officious behaviour” of the officers. NAMO also made it clear that he will be “personally monitoring” the status of monthly grievances on a monthly basis

The CBDT has clarified that the purpose of the amendment of section 9(1) (i) was to tax gains having economic nexus with India. It is stated that the as the declaration of dividend by a foreign company outside India does not have the effect of transfer of any underlying assets located in India, the said dividends would not be deemed to be income accruing or arising in India by virtue of the provisions of Explanation 5 to section 9 (1) (i) of the Act. Even if the shares derive their value substantially from assets situated in India