In pursuance of the consultations of the collegium of the Income Tax Appellate Tribunal consisting of the President and two senior-most Vice-Presidents, the following Members of the Tribunal are hereby transferred in public interest in the same capacity, to the Bench/es of the Income Tax Appellate Tribunal as shown against their names with effect from 06.02.2012.

We wish the Hon’ble Members good luck in their new postings.

Vide Order No. 17 of 2012 dated 19.01.2012 the CBDT has stated that three IRS officers have been selected as Accountant Members of the Tribunal and that their services are placed at the disposal of the Department of Legal Affairs, Ministry of Law & Justice, with effect from the date of assumption of charge or until further orders

Vide Order No. 14 dated 17.01.2012 the CBDT has, on promotion to the grade of Joint Commissioners of Income-tax on ad hoc basis, transferred & posted officers with immediate effect

Vide Order No. 13 dated 17.01.2012 the CBDT has transferred & posted officers in the grade of Additional/ Joint/ Deputy/ Assistant Commissioners of Income-tax in the Directorate of International Taxation & Transfer Pricing with immediate effect

Vide Order No. 08 dated 12.01.2012 the CBDT has promoted several Additional CITs/ DITs to the grade of Commissioner of Income-tax in the pay band of Rs. 37,400-67000 + grade pay Rs. 10,000 with effect from the date of assumption of charge of the post of CIT by them and until further orders

Vide Order No. 5 of 2012 dated 12.01.2012 the CBDT has posted and transferred officers in the grade of Commissioners/ Directors of Income-tax with immediate effect

HUF 151 QnA

The AIFTP has released a publication titled “155 Frequently Asked Questions & Answers – HUF”. Hon’ble Mr. Justice Deepak Verma, Judge, Supreme Court of India released the publication on 10th December, 2011 at Ranchi at the 16th National Convention organised by the AIFTP (Eastern Zone).

The highlights of the publication are as follows:

(i) All the provisions and controversies relating to HUF, in the form of 155 Questions & Answers, of practical importance, are answered in simple and lucid language by eminent professionals such as S/Shri Anant Pai, Chartered Accountant, B. V. Jhaveri, Advocate, Mumbai, N. M. Ranka, Sr. Advocate, Jaipur, Pravin Veera, Advocate & Solicitor, Mumbai, Vipul Joshi, Advocate, Mumbai. The same is edited by S/Shri N. M. Ranka, Sr. Advocate, Jaipur, V. H. Patil, Advocate, Mumbai, Dr. K. Shivaram, Advocate, Mumbai and Pradip Kapasi, Chartered Accountant.

(ii) The publication is divided into 13 Chapters to enable easy reference. Specimen Drafts of the documents required to create a HUF are also given;

(iii) Some of the important Chapters in the book are ‘Status of HUF’, ‘Partition’, ‘Reunion’, ‘Family Arrangements’, ‘Taxation and Clubbing of Income’, ‘Stamp Duty’, ‘Right of coparceners’, ‘Members’, ‘Provisions of Hindu Succession applicable to HUF Property’ etc. Aspecial chapter devoted to Amendments in Hindu Succession Act, 2005 is also included;

(iv) The publication will serve as an useful reference for Tax Consultants, Tax-payers, Advocates, Chartered Accountants & Government Authorities as well as tax officials in understanding the various issues relating to Hindu Law & HUF.

(v) The price of publication is Rs. 250. After discount, Members of the Federation have to pay only Rs. 200 while non-members have to pay only Rs. 225. Local / Outstation members desiring the publication to be sent by post are requested to add Rs. 50 per publication as courier charges.
Please make all drafts payable to “All India Federation of Tax Practitioners”.

For further details please contact:

ALL INDIA FEDERATION OF TAX PRACTITIONERS
215, Rewa Chambers, 31, New Marine Lines, Mumbai – 400 020
Tel.: 2200 6342 Telefax: 2200 6343 E-mail: aiftp@vsnl.com

The Ministry of Finance has intimated vide letter dated 30.12.2011 that one post of Member of the Authority for Advance Rulings (IT) is due to fall vacant shortly. The format for making the application together with the terms and conditions of appointment and salary are stated in the letter.

C. L. Sethi

We deeply regret to announce the tragic and untimely demise of Hon’ble Shri Chiranjilal Sethi, Judicial Member, posted in Delhi, on 1.1.2012. Shri. C. L. Sethi was a true Gentlemen and delivered many land mark judgments such as DLF Universal Ltd. vs. DCIT 123 ITD 1 (Del.) (SB), JCIT vs. Poddar Projects Ltd 88 ITD 247 (Cal)(SB), Peer Less Securities Ltd. vs. JCIT 95 ITD 89 (Cal.)(SB) etc. Shri. Sethi was known for his simplicity, knowledge and integrity. His conduct on and off the Bench was impeccable.

The Income Tax Appellate Tribunal Bar Association, Mumbai, conveys its heartfelt condolences to the members of Shri. Sethi’s family and prays to God to grant eternal peace to the departed soul, strength and courage to his family members to bear this great loss. May his soul rest in peace.

The List of Holidays of the Income Tax Appellate Tribunal in the year 2012 is available