New Rule 12E-ITO authorsied to issue notice u/s 143(2) for scrutiny. Move to create enough manpower to scrutinise income tax returns post 30-12-2016
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
Notification No. 105 /2016
New Delhi, the 16th November, 2016
G.S.R. 1073(E).—In exercise of the powers conferred by section 295 read with sub-section (2) of section 143 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
1. (1) These rules may be called the Income–tax (31st Amendment) Rules, 2016.
(2) They shall come into force on the date of publication in the Official Gazette.
2. In the Income-tax Rules, 1962, after rule 12D, the following rule shall be inserted, namely:-
“12E. Prescribed authority under sub-section (2) of section 143.—The prescribed authority under sub-section (2) of section 143 shall be an income-tax authority not below the rank of an Income-tax Officer who has been authorised by the Central Board of Direct Taxes to act as income-tax authority for the purposes of sub-section (2) of section 143.”.
[F. No. 142/8/2014-TPL]
Dr. T. S. MAPWAL, Under Secy.
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Author’s Note:
Sub section (2) of Section 143 provides that where a return of income has been filed whether regularly u/s 139 or in response to a notice u/s 142, the Assessing Officer or the Prescribed Authority, may issue scrutiny notice to ensure that income has not been understated.
By authorising officers of the rank of Income Tax Officers (ITOs) as Prescribed Authorities, Income tax Department is preparing to create enough man powers to issue notices for carrying out scrutiny at large scale post 30th December, 2016
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