The Income-tax department has released a publication titled “Assessment of Charitable Trusts and Institutions“. The publication explains the legal provisions and the procedural requirements for claiming exemption under the Income-tax Act, 1961 for charitable activities. Apart from explaining the concept of ‘Charitable Purposes’, the publication deals with the procedure for registration, assessment, denial of exemptions, incentives given to the donors of the trust etc. The publication also deals with important issues in a FAQ format. All amendments made by the Finance Act, 2012 are incorporated in the publication. The forms which have to be used by the assessees in order to avail of the benefit of various provisions are compiled as Annexures to the publication. The publication will prove very useful for all taxpayers and tax professionals.
The Income-tax department has released a publication titled “Appeals And Procedures For Filing Appeals“. The publication seeks to educate taxpayers about the legal provisions and procedures relating to filing appeals before the Commissioner of Income-tax (Appeals) and the Tribunal. The publication lists out the Forms in which the appeal has to be filed, the manner in which it has to be signed, the fees payable etc. The entire law and procedure is explained in lucid language. The guidelines laid down by the Appellate Tribunal for the guidance of the assesses and their representatives on how to conduct appeals is also included in the publication. The publication will prove useful as a ready-referencer for taxpayers and tax professionals
The CBDT has issued a publication titled “Advance Pricing Agreement Guidance With FAQs“. The publication seeks to increase the awareness of the taxpayers about the “Advance Pricing Agreement Scheme” which was notified on 30.08.2012 and its implementation. The publication explains the procedure to be followed by a taxpayer and the tax authorities before a taxpayer can enter into an APA. It also provides guidance on types of APAs, advantages of APAs etc.
The Finance Bill 2013 received the assent of the President on 10th May 2013 and has been enacted as the Finance Act 2013 (No. 17 of 2013).
Vide Order No. 83 of 2013 dated 13th May 2013 the CBDT has informed that the President has appointed several Income Tax Officers, presently posted in the region shown against their names in the grade of Assistant Commissioner of Income Tax (ACTT) in the pay scale of Rs.I5,600/-39,100/- (Plus Grade Pay of Rs.5400/- in Pay Band-3) with immediate effect and until further orders.
We are pleased to announce that eminent senior advocate and tax expert Shri Kapil Sibal has been appointed the Law Minister of India. Shri. Kapil Sibal’s father, Shri. H. L. Sibal, was an eminent tax counsel and has appeared in hundreds of tax matters. Shri. Kapil Sibal has also appeared in a number of landmark tax matters such as HY Lay Poultry Farms vs. State (1977) CTR (SC) 169, Mardia Chemicals vs. UOI 136 TM 360 (SC), Bansal Commodities vs. UOI 189 ITR 62 (Del) etc. He has an excellent grasp of all legal and tax issues and is well aware of the problems being faced by the tax payers in the Country. He is also well known for his humane and sympathetic approach while dealing with the problems of the citizens.
The Bar Association shall shortly approach the Hon’ble Law Minister with a request that the following long-standing issues raised by the Bar be addressed at the earliest:
(i) Appointment of a permanent President for the Tribunal as well as filling up the vacancies in the posts of Sr. Vice Presidents and Vice Presidents;
(ii) Judicial inquiry into the issues raised by the Bar in its letter dated 9.3.2012 regarding alleged corruption in the Tribunal;
(iii) Increase in the age limits for Judges & Tribunal Members from 62 years to 65 years.
We wish the Hon’ble Minister good luck in the new posting.
Resolution Passed By The ITAT Bar Association, Ahmedabad on 7th May 2013
Resolved that in view of the good offices of Hon’ble the Vice President of the Income Tax Appellate Tribunal, Ahmedabad Zone, Shri G.C. Gupta and in view of the written request of Shri Garodia for request transfer from Ahmedabad addressed to the Hon’ble President, Income Tax Appellate Tribunal, the resolution dated 19.04.2013 of the Income Tax Appellate Tribunal Bar Association shall be kept on hold till further notice and the members of our Association will start appearing before all Benches of the Hon’ble Income Tax Appellate Tribunal at Ahmedabad from 08.05.2013 (Wednesday).
Dated 7th May 2013
Manish J. Shah, President
The CBDT has addressed a letter dated 29.04.2013 to the Chief Commissioners of Income-tax (CCITs) in which it has emphasized the need for focused attention for a pro-active approach towards recovery of arrear demand. It is pointed out that some of the demands uploaded are incorrect or non-existent leading to grievances and aberrations. The CCITs have been directed to observe “Demand Management Month” from 25.04.2013 to 24.05.2013 and appoint a Nodal Officer of the rank of JCIT to address the grievances of the tax payers. It is emphasized that the aim should be to crystallize the arrear demand at a realistic level after resolving the grievances in a transparent manner and that the progress must be visible and apparent instead of being ceremonial. The CCITs have been directed to provide information as per the proforma to demonstrate the progress in resolution of assessee’s grievances as well as discrepancies existing in the demand figures.
The Finance Bill 2013 has been passed by the Lok Sabha today (30.04.2013) after incorporating several important amendments. Among the important amendments is the proposed insertion of sub-section (3) to s. 252 to provide that the Central Government may inter alia appoint a person who is a sitting or retired Judge of a High Court as the President of the Tribunal.
Vide Circular dated 17.04.2013, the Ministry of Law & Justice has invited applications for appointment to the posts of Judicial & Accountant Member of the Income Tax Appellate Tribunal. There are 20 vacancies for the post of Judicial Member and 28 vacancies for the post of Accountant Member. The posts belong to General Central Services Group ‘A’ (Gazetted) and carry a pay-scale of Rs.75,500- 3% Annual Increment- 80,000/- plus other allowances as admissible under the extant rules. The posts are temporary at present, but are likely to continue. The applications have to be sent by 14.06.2013.