CBDT to Investigate Misuse of Section 263 in Income Tax Act; Seeks Accountability and Guidelines to Prevent Abuse.

CBDT directed to initiate a discreet enquiry in this case to find out, as to how and under what circumstances on the basis of false, frivolous and baseless allegations, that too with malafide intentions, proceedings u/s 263 of the Act have been initiated apparently to victimize the appellant, to proceed against the guilty officials under Rules and to further frame the guidelines to deal with such abuse of powers by the senior officers, so that such incident should not reoccur. .....

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