Clarification by the assessee in re- spect of an application to the Com- mission for pending cases It has been clarified by the department that an assessee may make an application to the Commission at any stage of the pro- ceedings in case pending before any Income-tax Authorities. After 31st May, 2007, an assessee can make an application to the Commission only during the pendency of the proceedings before the Assessing Officer. It is further clarified that (a) since intimation under section 143(1) is not an assessment order, there will be no bar in filing an application for settle- ment subsequent to receipt of an intimation under section 143(1). It is not material whether time-limit for issue of notice under section 143(2) has expired or not; (b) (b) the assessment shall be deemed to have been completed Amendment in Income Tax Rules, 1962 ⇒ RULE 2 • Rule 2C:- The following proviso shall be inserted for any income received by any person on behalf of any fund or trust for charitable purpose, or on behalf of any trust or in- stitution for religious purpose that on or after the specified date which the CBDT may notify in official gazette, the prescribed authority shall be the Principal Commissioner or Commissioner, to whom the application shall be made as provided in sub-rule (2). • Rule 2CA:- The following proviso shall be inserted for any income received by any person on behalf of educational institution for educational purpose and not for the purpose of profit, and on behalf of any hospital for the reception and treatment of persons suffering from illness or mental defec- tives etc. that on or after the specified date which the CBDT may notify in official gazette, the prescribed authority shall be the Principal Commissioner or Commissioner, to whom the application shall be made as provided in sub-rule (2). Also explanation to the meaning of Chief Commissioner or Director General, “Principal Commissioner or Commissioner” and “specified date” is given. ⇒ RULE 11AA The time limit for the approval of or rejection of institution or fund under Section 80G shall not exceed six months from the end of that month in which such application was received by the commissioner. However the time limit excludes the time taken by the applicant for non complying of such documents or infor- mation which the commissioner may deem fit to ask. ⇒ Few forms are substituted such as Form 10A, Form 56 and Form 56D. on the date on which the assessment order is passed.”
Posted on: Tue, 02 Dec 2014 04:15:55 +0000
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