(i) 19496 cases pending adjudication beyond one year, as on 1st January, 2016, in Customs, Central Excise & Service Tax, whereas adjudication should not be perang for more than 1 year. (ii) 58991 cases are pending in Call Book, in Customs, Central Excise & Service Tax.
The functionality for viewing such cases which are selected by AO under Manual Scrutiny on the basis of suggestions by CPC for A.Y. 2013-14 and for which order under section 143(3) of the Act has still not been passed, has been enabled in the ITD system and can be accessed by entering the following path in ITD System:
Section 194IA of the IT Act relates to TDS on Sale of property. Form 26QB is an online statement-cum-challan to be filled and submitted by the buyer of the property for making TDS payment on sale of property. It contains details of buyer, seller, property being sold, sale consideration, tax deposit details etc.
As per the provisions of Section 129A (2) or Section 129D of the Customs Act, 1962, Section 35B (2) or Section 35E of the Central Excise Act, 1944 and Section 86 (2A) or Section 86 (2) of Finance Act, 1994 power of review of Commissioner (Appeals) order or order of Principal Commissioner/ Commissioner as an adjudicating authority vests with the Committee of Commissioners and Committee of Chief Commissioners respectively and there is no provision for reviewing the same order twice.
Assessing Officer to ensure that information available in the ‘Penny Stock’ functionality which may be useful for the purpose of cases presently under scrutiny, is examined and considered while finalizing assessments and considering reopening of cases u/s 148 of the IT Act, 1961.
As you are aware that returns furnished by the assessees during the FY 2014-15 are pending for processing under section 143(1) and the limitation date for the same is 31-3-2016.
I am directed to forward herewith a copy of OM No. 11019/4/2015 PG-C1 dated 11.02.2016 received from Department of Administrative Reforms and Public Grievances on the above mentioned subject, for necessary action.
In terms of the provisions, any income arising from an international transaction or specified domestic transaction between two or more associated enterprises shall be computed having regard to the Arm’s Length Price.
Verification of Genuineness of Agricultural Income Shown In Income Tax Return by Assessees for Assessment Years 2011-12 to 2013-14- There is a PIL matter pending before Hon’ble Patna High Court wherein concerns have been raised that a few assesses may be engaged in routing their unaccounted/illegal money in the garb of agricultural income thereby not only claiming exemptions on such income but also engaged in the money laundering activities.
The Hon’ble High Court of Karnataka vide its order dated 07.10.2015 dismissed the captioned Writ Petition along with other Writ Petitions which were filed challenging the amended Section 35 F of the Central Excise Act, 1944, which requires mandatory pre-deposit of the duties and penalties.
