CIT(A) Must Pass Appellate Order Within 15 Days Of Hearing: CBDT
The CBDT has issued an Instruction dated 19th June 2015 directing that all Commissioner of Income Tax (Appeals) should issue appellate orders within 15 days of the last hearing. It is stated that this directive shall also be applicable to orders passed by the CIT (Administration)/ CCIT as regards matters within their purview under varied Sections of Income Tax Act such as Sections 80G, 264, 263 or Orders under Rule 86 of Second Schedule and under other allied direct taxes. The CBDT has directed all officers to ensure strict compliance of the directive and has warned that any lapse on this account shall be viewed adversely
CBDT Orders For Transfers And Postings Of Addl And Joint CsIT In Intl Tax And Transfer Pricing
The CBDT has vide Order No. 89 of 2015 dated 19th June 2015 ordered the transfer and posting of several officers in the grade of Additional and Joint Commissioners of Income Tax in the Directorates/ International Taxation & Transfer Pricing and CBDT with immediate effect and until further orders
Regards,
Editor,
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Latest:Raptakos Brett & Co. Ltd vs. DCIT (ITAT Mumbai)
S. 10(38), 70(3): Though the LTCG on sale of equity shares (subject to STT) is exempt from tax u/s 10(38), the long-term capital loss on sale of such shares can be set-off against the taxable LTCG on sale of another asset
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