SEBI signs MoU with CBDT sharing of data and information for carrying out scrutiny, inspection, investigation and prosecution
SEBI signs MoU with CBDT
Securities and Exchange Board of India (SEBI) has signed a Memorandum of Understanding (MoU) with Central Board of Direct Taxes (CBDT).
The MoU will facilitate the sharing of data and information between CBDT and SEBI on an automatic and regular basis.
The MoU will ensure that both CBDT and SEBI have seamless linkage for data exchange. In addition to regular exchange of data, CBDT and SEBI will also exchange with each other, on request and suo moto basis, any information available in their respective databases, for the purpose of carrying out scrutiny, inspection, investigation and prosecution.
This MoU is an ongoing initiative of CBDT and SEBI, who are already collaborating through various existing mechanisms.
A Data Exchange Steering Group has also been constituted which will meet periodically to review the data exchange status and take steps to further improve the effectiveness of the data sharing mechanism.
The MoU comes into force from 8th July 2020.
- Penalty u/s 271B for unfilled column 40 in Tax Audit Report Form 3CD deleted by ITAT
- Merely ex-parte rectifying computation without amending assessment order not make it nullity- ITAT
- Once assessee discharges primary onus, it shifts to AO to bring evidence to contrary – ITAT
- Cost Inflation Index for FY/Tax Year 2026-27 notified by CBDT. See Up-to-date Table of CII
- Power of CIT(A) u/s 251(1)(a) to remand case can be exercised only in best judgment assessment
