Circular for Modification of Instruction with Fresh Guidelines and Procedures for dealing with Revenue Audit objections issued

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Circular for Modification of Instruction with Fresh Guidelines and Procedures for dealing with Revenue Audit objections issued - News and Press Release Dated:- 17-3-2016 - News - Press Information Bureau Government of India Ministry of Finance 17-March-2016 18:25 IST The guidelines and procedure for attending to objections raised in the course of audit of assessment work by t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he Comptroller and Auditor General of India (Revenue Audit) are laid down in the Instruction No of 2006 issued by the Central Board of Direct Taxes (CBDT). The Instruction inter-alia mandates the initiation of remedial action in case the Revenue Audit Objection is not accepted by the Department. The Board has considered the effect of such remedial action and its ultimate fate in appeal and dec .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ided to modify the existing instruction for dealing with remedial action on Revenue Audit objections that are not accepted by the Department. A Circular (Circular No. 8/2016) has been issued today deleting para 4 and para 5 of the Instruction and replacing them with fresh guidelines and procedures for dealing with Revenue Audit objections. The modified Instruction will avoid creation of un-col .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lectible demand and reduce litigation with the assessee in such cases where the Department itself finds the Revenue Audit objection not acceptable. It is another step in the direction of a non-adversarial tax regime. The Circular is available on the website of the Income Tax Department at www.incimetaxindia.gov.in. ***** DSM/KA - News - Press release - PIB Tax Management India - taxman .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... agementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X