Tuesday, November 18, 2014

Chapter XIX-A of the Income-tax Act, 1961: ITSC Circular

ITSC: Circular No. 16 /2014;
Dated: 17th November, 2014;

SUB:-Clarification in respect of Circular No.3 of 2008 dated 12/3/2008 of CBDT – reg.

Chapter XIX-A of the Income-tax Act, 1961 contains provisions relating to settlement of cases by the Income-tax Settlement Commission (ITSC). The provisions contained in the said chapter were amended by Finance Act, 2007 and a Revised Settlement Scheme was put in place. Explanatory Circular No. 3/2008 dated 12.03.2008 issued by CBDT vide para 61 (comprising sub paras 61.1 to 61.17) deals with Revised Settlement Scheme


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