It has been brought to the notice of Board that notices under section 143(2) of the Income-tax Act, 1961 (‘Act’) were generated in respect of certain invalid returns of the assessees filed for the Assessment Year 2017-18 through CASS Cycle 2018. As the scrutiny of such returns will pose a challenge for the AO and is bad in law, I am directed to state that Assessing Officers shall drop the proceedings u/s 143(2) of the Act in such cases and reopen the same by issue of notice under section 148 of the Act.
As you may be ware that OLTAS module has been migrated to ITBA environment and presently challan correction facilities are available in ITBA. The various collection MIS/reports which were available in the legacy OLTAS module have been designed and developed in ITBA environment and being release to enable field access and generate. The reports are available in Income Tax Business Application (ITBA) as per the following details:
Ld. Single Judge in his judgment directed GST Council to consider and pass orders on representation submitted by Petitioner, within a period of one month from the date of receipt of a copy of judgement, after hearing parties.
In this regard, board has issued an instruction related to the verification checklist in the cash deposit cases during the demonetization period for providing the assistance to the AOs for verification of cash deposits and framing of assessment in the demonetisation related cases.
I have been directed to once again request you that the task of cancellation of registration of such non-filers of GST Returns should be taken on priority basis and should be finished by 25.11.2019. A daily report in this regard in the attached format be sent to this office by 1600 hrs.
In the context of formulating the proposals for the Union Budget of 2020-21, the Ministry of Finance would like to be benefited by the suggestions and views of your Association. You may like to send your suggestions for changes in the duty structure, rates and broadening of tax base on both direct and indirect taxes giving economic justification for the same.
In view of the large number of pendency, there is a possibility of problems arising in computation and calculation of tax by system. In view of the large number of pendency, there is a possibility of bulk of the pending assessments being completed around the end of the time barring period. As you are aware, the computation and tax calculation process can be complex in certain cases which may cause delay in completion of accounting in the system.
In order to enhance the scope of services offered under wellness and preventive features/benefits of health insurance products, it is proposed to issue comprehensive guidelines on wellness and preventive features/benefits.
I am directed to refer to the subject cited above and to convey herewith the approval of the Competent authority for delegation of powers to jurisdictional Development Commissioners for authorising the proposals of shifting/relocation/transfer of SEZ Units from one SEZ to another SEZ within the same Zone.
Please refer to notification No. 25/2019-Cus dated 6th July 2019 wherein the BCD rate on Cashew Kernel broken [0801 32 10], Cashew kernel whole [0801 32 20] and others [0801 32 90] was increased to the tariff rate which is 70%. However, due to an inadvertent error in the ICEGATE system, the tariff rate on the above goods is reflecting to be 30% which is incorrect.
