CBDT amends laws relating to Faceless Income Tax Penalty Scheme
CBDT has notified the Faceless Penalty (Amendment) Scheme, 2022 and made amendments to its Notification No. 3/2021 dated 12.01.2021.
CBDT has issued two notifications namely Notification No. 54/2022 and Notification No. 55/2002 dated 27.05.2022Under the amended provisions/rules, the “Penalty review units” than Regional Faceless Penalty Centres have been given power to propose imposition of penalty and the National Faceless Penalty Centre shall convey to the penalty unit to pass the penalty order or otherwise.
Also, it has been provided that where the request for personal hearing has been received, the income-tax authority of relevant penalty unit shall, instead of Regional Facessless Penalty Centre, allow such hearing, through National Faceless Penalty Centre. Hearing shall be conducted exclusively through video conferencing or video telephony, including use of any telecommunication application software which supports video conferencing or video telephony.
The ‘Penalty Review Units’ shall mean the Assessing Officer having powers so assigned by the CBDT.
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even…
Empanelment of General Observers for ICSI Examinations December 2026 ICSI has invited interested members to enroll as General Observers for…
ITAT answers some important and inter-related issues relating to deduction u/s 80IA In a recent judgment, ITAT has dealt with…
Carry forward of loss can not be denied for belated return, it is only the set off in subsequent year…
Where sales are duly recorded in books and VAT returns, to treat it bogus sales, AO must bringing cogent adverse…
Expenses to celebrate Diwali with staff creates a goodwill and, therefore amounts to expenses incurred for the purpose of business…