150 IRS Officers appointed to the grade of Assistant Commissioner of Income Tax (ACIT)

CBDT has appointed 150 IRS officers to the grade of Assistant Commissioner of Income Tax (ACIT)

The appointment has been made in the Junior scale in the Level 10 in the pay matrix Rs. 56100-177500 in a substantive capacity with effect from different date(s).

• AO is under an obligation to assign reasons for rejecting explanation of the assessee
• CBIC issues SoP for clearance of imported goods through Foreign Post Offices
• Sale deed executed with full knowledge of only part consideration paid, not void – SC
• No fault in serving notice to last known address when PAN data was not updated – ITAT
• Investment by firm through capital introduced by partners cannot be treated as unexplained