CBDT order for 338 transfers/postings in the grade of Addl. CIT and JCIT
CBDT vide order 119/2020 has made 388 transfers/postings in the grade of Additional Commissioner of Income Tax (Addl. CIT) and Joint Commissioner of Income Tax (JCIT).
173 transfer/postings have been made in promotion cases, 56 are mandatory transfer cases, 151 transfers have been made on request and 8 are other transfer/postings.
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- ITAT allows exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees
- PCIT has revisionary jurisdiction u/s 263 over the cases passed by the NFAC or the JAO
- Appellate court interfering with MACT finding must undertake reappreciation of evidence
- When delay is not huge & involves huge monetary liability, lenient approach to be taken
- EoGM of company can not ratify diversion of fund raised by preferential issue – SC
