April 27, 2023

Where the Central Government or the Board or an income-tax authority, who has been conferred upon the power under any provision of this Act to grant any approval to any assessee, the Central Government or the Board or such authority may, notwithstanding that a provision to withdraw such approval has not been specifically provided for in such provision, withdraw such approval at any time : Provided that the Central Government or Board or income-tax authority shall, after giving a reasonable opportunity of showing cause against the proposed withdrawal to the assessee concerned, at any time, withdraw the approval after recording the reasons for doing so.

Where, under any provision of this Act, the approval of the Central Government or the Board is required to be obtained before a specified date, it shall be open to the Central Government or, as the case may be, the Board to condone, for sufficient cause, any delay in obtaining such approval.

(1) The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of granting approval or registration, as the case may be, by income-tax authority under any provision of the Act, so as to impart greater efficiency, transparency and accountability by— (a)  eliminating the interface between the income-tax authorities and the assessee or any other person to the extent technologically feasible; (b)  optimising utilisation of the resources through economies of scale and functional specialisation; (c)  introducing a team-based grant of approval or registration, with dynamic jurisdiction. (2) The Central Government may, for the purpose of giving effect to the scheme made under sub-section (1), by notification in the Official Gazette, direct that any of the provisions of this Act shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in the notification: Provided that no direction shall be issued after the 31st day of March, 2022. (3) Every notification issued under sub-section (1) and sub-section (2) shall, as soon as may be after the notification is issued, be laid before each House of Parliament.]

Introduction Are you looking to understand about Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961: What You Need to Know ?  This detailed article will tell you all about Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961: What You Need to Know. Hi, my name is Shruti Goyal, I have been working in the field of Income Tax since 2011. I have a vast experience of filing income tax returns, accounting, tax advisory, tax consultancy, income tax provisions and tax planning. B K Goyal & Co LLP is a CA Firm in India practicing in the field of taxation, company compliance, company incorporations, auditing, tax advisory, planning, business advisory, income tax return filings and many more. As a taxpayer in India, you are probably familiar with the Income Tax Act 1961, which governs the taxation of individuals and entities in the country. However, you may not be aware of a specific provision within this Act that has significant implications for taxpayers – the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961. In this blog, we will delve into this provision, exploring what it means, how it works, and what you need to know as a taxpayer. We will also answer some frequently asked questions and provide a conclusion that ties everything together. What is the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961? Section 294 of the Income Tax Act 1961 empowers the Central Board of Direct Taxes (CBDT) to issue orders that have the force of law. The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 is a specific order issued by the CBDT, which allows the government to charge taxes in certain circumstances, even when the legislative provision for such charges has not yet been enacted. The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 is a crucial tool for the government, as it allows them to levy taxes in cases where there is an urgent need for revenue, but the legislative process for creating a new tax law is still ongoing. This provision ensures that the government can collect taxes in a timely manner, without waiting for the entire legislative process to be completed. How does the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 work? The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 comes into effect when the CBDT issues an order under this provision. Once the order is issued, it has the force of law and can be used to levy taxes in the specific circumstances outlined in the order. It is important to note that the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 is not a permanent provision. It is only used in cases where there is an urgent need for revenue and the legislative process for creating a new tax law is still ongoing. What are the implications of the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 for taxpayers? The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 has significant implications for taxpayers. If you are subject to taxation under this provision, you may be required to pay taxes even if the legislative provision for such taxes has not yet been enacted. As a taxpayer, it is important to stay informed about the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 and any orders issued under this provision. This will help you to understand your tax liabilities and avoid penalties for non-compliance. FAQs Q: What is the difference between the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 and a regular tax law? A: The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 allows the government to charge taxes in certain circumstances, even when the legislative provision for such charges has not yet been enacted. A regular tax law, on the other hand, is a permanent provision that has been enacted through the legislative process. Q: When does the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 come into effect? A: The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 comes into effect when the CBDT issues an order under this provision. Q: How can I stay informed about the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 and any orders issued under this provision? A: You can stay informed about the Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 and any orders issued under this provision by regularly checking the official website of the CBDT and other reliable sources of tax information. Conclusion The Act to have effect pending legislative provision for charge of tax section 294 of Income Tax Act 1961 is an important provision within the Income Tax Act 1961 that allows the government to charge taxes in certain circumstances, even when the legislative provision for such charges has not yet been enacted. As a taxpayer, it is important to stay informed about this provision and any orders issued under it, in order to understand your tax liabilities and avoid penalties for non-compliance. By understanding the

Introduction Are you looking to understand about Understanding the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961?  This detailed article will tell you all about Understanding the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961. Hi, my name is Shruti Goyal, I have been working in the field of Income Tax since 2011. I have a vast experience of filing income tax returns, accounting, tax advisory, tax consultancy, income tax provisions and tax planning. B K Goyal & Co LLP is a CA Firm in India practicing in the field of taxation, company compliance, company incorporations, auditing, tax advisory, planning, business advisory, income tax return filings and many more. The Income Tax Act of 1961 is one of the most significant pieces of legislation in India’s tax laws. It is a comprehensive statute that governs the taxation of individuals and businesses in the country. The Act has numerous provisions that cover different aspects of taxation, including the procedure for assessing, collecting, and recovering taxes. One such provision is the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961. This provision lays down certain restrictions on the jurisdiction of civil courts concerning matters related to taxation. In simpler terms, it means that taxpayers cannot approach civil courts to seek redressal of any tax-related disputes. In this article, we will take a closer look at the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 and understand its implications for taxpayers in India. What is the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961? The Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 is a provision that restricts the jurisdiction of civil courts in matters related to taxation. According to this provision, no civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Income Tax Act provides for or where a remedy has been provided under the Act. In other words, if a taxpayer has a dispute related to taxation, they cannot approach a civil court to seek relief. Instead, they must follow the procedures laid down in the Income Tax Act to resolve their dispute. Why was the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 introduced? The Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 was introduced to streamline the process of resolving tax-related disputes. Before this provision was introduced, taxpayers could approach civil courts for redressal of any tax-related grievances. This led to a lot of confusion and delays, as different courts were interpreting the Income Tax Act in different ways. The introduction of the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 ensured that all tax-related disputes were resolved in a uniform and systematic manner. It also helped in reducing the burden on civil courts, which were already overburdened with a large number of cases. What are the implications of the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 for taxpayers? The Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 has several implications for taxpayers. Some of these are: Taxpayers cannot approach civil courts to seek relief in any tax-related disputes. Taxpayers must follow the procedures laid down in the Income Tax Act to resolve their disputes. Taxpayers must ensure that they comply with all the provisions of the Income Tax Act to avoid any disputes. Taxpayers must keep themselves updated with any changes in the Income Tax Act to avoid any non-compliance issues. FAQs Can taxpayers approach civil courts for any tax-related disputes? No, taxpayers cannot approach civil courts for any tax-related disputes. They must follow the procedures laid down in the Income Tax Act to resolve their disputes. What happens if taxpayers do not comply with the provisions of the Income Tax Act? If taxpayers do not comply with the provisions of the Income Tax Act, they may face penalties and fines, and may also be subject to legal action by the tax authorities. What are the procedures laid down in the Income Tax Act for resolving tax-related disputes? The Income Tax Act provides for several procedures for resolving tax-related disputes, such as filing an appeal with the Commissioner of Income Tax (Appeals) or the Income Tax Appellate Tribunal (ITAT). Taxpayers can also avail of the Alternative Dispute Resolution (ADR) mechanism provided under the Act. Are there any exceptions to the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961? Yes, there are some exceptions to the Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961. For instance, if a taxpayer has a dispute related to the constitutional validity of a particular provision of the Income Tax Act, they can approach a civil court to seek relief. Conclusion The Bar of Suits in Civil Courts Section 293 of Income Tax Act 1961 is a crucial provision that governs the jurisdiction of civil courts in matters related to taxation. It ensures that all tax-related disputes are resolved in a uniform and systematic manner, and reduces the burden on civil courts. As a taxpayer, it is essential to understand the implications of this provision and comply with all the provisions of the Income Tax Act to avoid any disputes. If you do find yourself in a tax-related dispute, it is important to follow the procedures laid down in the Act and seek professional help if necessary. Section 293, of Income Tax Act, 1961 Section 293, of Income Tax Act, 1961 states that No suit shall be brought in any civil court to set aside or modify any proceeding taken or order made under this Act; and no prosecution, suit or other proceeding shall lie against the Government or any officer of the Government for anything in good faith

Introduction Are you looking to understand about The Power to Make Exemption, etc., in Relation to Certain Union Territories under Section 294A of Income Tax Act 1961?  This detailed article will tell you all about The Power to Make Exemption, etc., in Relation to Certain Union Territories under Section 294A of Income Tax Act 1961. Hi, my name is Shruti Goyal, I have been working in the field of Income Tax since 2011. I have a vast experience of filing income tax returns, accounting, tax advisory, tax consultancy, income tax provisions and tax planning. B K Goyal & Co LLP is a CA Firm in India practicing in the field of taxation, company compliance, company incorporations, auditing, tax advisory, planning, business advisory, income tax return filings and many more. Section 294A of Income Tax Act 1961 is a provision that grants power to the Central Government to make exemptions, deductions, or modifications in relation to certain Union Territories. The Union Territories included in this section are Dadra and Nagar Haveli, Daman and Diu, Lakshadweep, and Puducherry. This section has a significant impact on taxpayers in these Union Territories, and it is important to understand its provisions to ensure compliance with the law. In this blog, we will discuss the details of section 294A of Income Tax Act 1961, its implications for taxpayers, and the frequently asked questions related to this provision. Understanding Section 294A of Income Tax Act 1961 Section 294A of Income Tax Act 1961 empowers the Central Government to make exemptions, deductions, or modifications in relation to certain Union Territories. The Union Territories covered under this provision are Dadra and Nagar Haveli, Daman and Diu, Lakshadweep, and Puducherry. The government can make exemptions or deductions in respect of any income tax payable or any other tax, including surcharge or cess. The power to make exemptions, etc., under section 294A is not absolute, and there are certain conditions that need to be fulfilled. The government can exercise this power only if it is satisfied that it is necessary or expedient in the public interest to do so. Implications for Taxpayers The power to make exemptions, etc., under section 294A of Income Tax Act 1961 has significant implications for taxpayers in the Union Territories covered under this provision. Here are some of the implications: Taxpayers in these Union Territories may be eligible for exemptions or deductions that are not available to taxpayers in other parts of the country. This can significantly reduce their tax liability and increase their disposable income. The exemptions or deductions allowed under this section may be specific to certain industries or sectors. Therefore, taxpayers engaged in these industries or sectors may benefit more from this provision. Taxpayers in these Union Territories need to stay updated with any changes made by the government under this provision. Failure to comply with the provisions can result in penalties or other legal consequences. FAQs What are the Union Territories covered under section 294A of Income Tax Act 1961? Ans: The Union Territories covered under this provision are Dadra and Nagar Haveli, Daman and Diu, Lakshadweep, and Puducherry. What is the power granted under section 294A of Income Tax Act 1961? Ans: The power granted under this provision is the power to make exemptions, deductions, or modifications in relation to certain Union Territories. Who can exercise the power under section 294A of Income Tax Act 1961? Ans: The power under this provision can be exercised by the Central Government. What is the condition for exercising the power under section 294A of Income Tax Act 1961? Ans: The government can exercise this power only if it is satisfied that it is necessary or expedient in the public interest to do so. Conclusion Section 294A of Income Tax Act 1961 gives the Central Government the power to make exemptions, deductions, or modifications in relation to certain Union Territories. This provision has significant implications for taxpayers in the Union Territories covered under this section, as they may be eligible for exemptions or deductions that are not available to taxpayers in other parts of the country. However, it is important to note that the government can exercise this power only if it is necessary or expedient in the public interest to do so. Taxpayers in these Union Territories need to stay updated with any changes made by the government under this provision to ensure compliance with the law. Failure to comply with the provisions can result in penalties or other legal consequences. In conclusion, Section 294A of Income Tax Act 1961 grants the Central Government the power to make exemptions, deductions, or modifications in relation to certain Union Territories. Taxpayers in these Union Territories may benefit from the exemptions or deductions allowed under this provision, but it is important to understand the conditions and stay updated with any changes made by the government.   Section 294A, of Income Tax Act, 1961 Section 294A, of Income Tax Act, 1961 states that If the Central Government considers it necessary or expedient so to do for avoiding any hardship or anomaly or removing any difficulty that may arise as a result of the application of this Act to the Union territories of Dadra and Nagar Haveli, Goa*, Daman and Diu, and Pondicherry, or in the case of the Union territory of Pondicherry, for implementing any provision of the Treaty of Cession concluded between France and India on the 28th day of May, 1956, that Government may, by general or special order, make an exemption, reduction in rate or other modification in respect of income-tax or super-tax in favour of any assessee or class of assessees or in regard to the whole or any part of the income of any assessee or class of assessees : Provided that the power conferred by this section shall not be exercisable after the 31st day of March, 1967, except for the purpose of rescinding an exemption, reduction or modification already made.

Introduction Are you looking to understand about Understanding Authorisation and Assessment in Case of Search or Requisition Section 292CC of Income Tax Act 1961?  This detailed article will tell you all about Understanding Authorisation and Assessment in Case of Search or Requisition Section 292CC of Income Tax Act 1961. Hi, my name is Shruti Goyal, I have been working in the field of Income Tax since 2011. I have a vast experience of filing income tax returns, accounting, tax advisory, tax consultancy, income tax provisions and tax planning. B K Goyal & Co LLP is a CA Firm in India practicing in the field of taxation, company compliance, company incorporations, auditing, tax advisory, planning, business advisory, income tax return filings and many more. As a taxpayer, you are obligated to comply with the laws and regulations set forth by the Income Tax Department of India. In certain cases, the department may conduct a search or requisition of your property to investigate tax evasion or non-compliance. This can be a daunting experience, but it is important to understand your rights and obligations during this process. One of the key provisions related to this process is Section 292CC of the Income Tax Act 1961, which deals with authorisation and assessment in case of search or requisition. In this blog post, we will explore this provision in detail and discuss its implications for taxpayers. Understanding Authorisation and Assessment in Case of Search or Requisition Section 292CC of Income Tax Act 1961 Section 292CC of the Income Tax Act 1961 deals with the process of authorisation and assessment in case of search or requisition. Let’s break down the various aspects of this provision: Authorization: Under this provision, the Assessing Officer (AO) is authorized to proceed with a search or requisition if he has reason to believe that any person has undisclosed income, which is likely to be concealed. However, the AO must first obtain written authorization from the Director General or Director of Income Tax, who is senior in rank to him. This authorization must be given within 15 days from the date of receipt of the proposal from the AO. Assessment: After the search or requisition is conducted, the AO is required to assess the total income of the taxpayer for the relevant assessment year. This assessment must be made in accordance with the provisions of the Income Tax Act and the rules made thereunder. Notice of Assessment: Once the assessment is completed, the AO is required to issue a notice to the taxpayer specifying the total income and the tax payable thereon. The taxpayer can then file his objections, if any, to the assessment within 30 days from the date of receipt of the notice. Penalty: If the AO finds that the taxpayer has concealed his income or furnished inaccurate particulars of income, he may impose a penalty of up to three times the amount of tax sought to be evaded. Now that we understand the key aspects of Section 292CC, let’s address some common questions that taxpayers may have. FAQs Q: Can the AO conduct a search or requisition without obtaining written authorization from the Director General or Director of Income Tax? A: No, the AO is required to obtain written authorization from the Director General or Director of Income Tax before proceeding with a search or requisition. Q: Can the taxpayer refuse to cooperate during a search or requisition? A: No, the taxpayer is required to cooperate during a search or requisition and provide all necessary information and documents as requested by the AO. Q: What happens if the taxpayer fails to file objections to the assessment within 30 days? A: If the taxpayer fails to file objections to the assessment within 30 days, the assessment order will become final and binding. Q: Can the taxpayer challenge the assessment order? A: Yes, the taxpayer can challenge the assessment order before the Commissioner of Income Tax (Appeals) or the Income Tax Appellate Tribunal. Conclusion In conclusion, Section 292CC of the Income Tax Act 1961 lays down the process of authorisation and assessment in case of search or requisition. As a taxpayer it is important to understand your rights and obligations during this process, and to comply with the laws and regulations set forth by the Income Tax Department of India. In case of a search or requisition, the AO must obtain written authorization from the Director General or Director of Income Tax, and must assess the total income of the taxpayer for the relevant assessment year. The taxpayer can file objections to the assessment within 30 days from the date of receipt of the notice, and can challenge the assessment order before the Commissioner of Income Tax (Appeals) or the Income Tax Appellate Tribunal. It is important to note that a search or requisition is not an accusation of tax evasion or non-compliance, but is a means of gathering information and documents for assessment purposes. As a taxpayer, it is your responsibility to cooperate with the AO during this process, and to provide all necessary information and documents as requested. Failure to do so may result in penalties and legal action. In addition to understanding the provisions of Section 292CC, it is also important to maintain accurate and complete records of your income, expenses, and assets. This can help you avoid discrepancies and errors in your tax returns, and can also help you in case of a search or requisition. In conclusion, authorisation and assessment in case of search or requisition under Section 292CC of the Income Tax Act 1961 is a complex and important provision that affects taxpayers in India. It is important to understand your rights and obligations during this process, and to comply with the laws and regulations set forth by the Income Tax Department. By doing so, you can avoid penalties and legal action, and ensure that your tax affairs are in order. Section 292CC, of Income Tax Act, 1961 Section 292CC, of Income Tax Act,

Introduction Are you looking to understand about Power to Make Rules Section 295 of Income Tax Act 1961: A Comprehensive Guide?  This detailed article will tell you all about Power to Make Rules Section 295 of Income Tax Act 1961: A Comprehensive Guide. Hi, my name is Shruti Goyal, I have been working in the field of Income Tax since 2011. I have a vast experience of filing income tax returns, accounting, tax advisory, tax consultancy, income tax provisions and tax planning. B K Goyal & Co LLP is a CA Firm in India practicing in the field of taxation, company compliance, company incorporations, auditing, tax advisory, planning, business advisory, income tax return filings and many more. Taxation is an essential component of any modern society. It is the means by which governments generate revenue to finance public services and infrastructure. In India, the Income Tax Act, 1961 is the primary legislation that governs the taxation of individuals and entities. Section 295 of this Act is a provision that grants the government the power to make rules that are necessary for the effective administration of the Act. This blog post aims to provide a comprehensive guide to Power to Make Rules Section 295 of Income Tax Act 1961. We will cover the following topics: What is Section 295 of the Income Tax Act, 1961? What is the purpose of Section 295? What is the scope of Section 295? What are the limitations of Section 295? What is Section 295 of the Income Tax Act, 1961? Section 295 of the Income Tax Act, 1961 reads as follows: “The Board may, subject to the control of the Central Government, make rules for carrying out the purposes of this Act.” This provision grants the Central Board of Direct Taxes (CBDT) the power to make rules that are necessary for the effective administration of the Act. The CBDT is a statutory authority that is responsible for the administration of direct taxes in India. What is the purpose of Section 295? The purpose of Section 295 is to enable the CBDT to make rules that are necessary for the effective administration of the Income Tax Act, 1961. The Act is a complex piece of legislation that governs the taxation of individuals and entities in India. It is essential that the administration of the Act is streamlined and efficient to ensure that taxpayers are able to comply with their obligations under the Act, and that the government is able to collect tax revenue in a timely and effective manner. What is the scope of Section 295? The scope of Section 295 is broad and covers all aspects of the administration of the Income Tax Act, 1961. The CBDT may make rules relating to: The manner in which returns of income are to be furnished; The manner in which assessments are to be made; The procedure for the collection and recovery of tax; The manner in which appeals are to be filed and heard; and Any other matter that is necessary for the effective administration of the Act. The scope of Section 295 is not limited to the matters listed above. The CBDT has the power to make rules on any matter that is necessary for the effective administration of the Income Tax Act, 1961. What are the limitations of Section 295? While Section 295 grants the CBDT broad powers to make rules for the effective administration of the Income Tax Act, 1961, these powers are not unlimited. There are several limitations to the CBDT’s power to make rules, including: The rules must be made subject to the control of the Central Government. This means that the Central Government has the power to approve or reject any rule made by the CBDT. The rules must be consistent with the provisions of the Income Tax Act, 1961. The CBDT cannot make rules that are inconsistent with the Act. The rules must be reasonable and fair. The CBDT cannot make rules that are arbitrary or discriminatory in nature. FAQs Q: Who is the Central Board of Direct Taxes (CBDT)? A: The CBDT is a statutory authority that is responsible for the administration of direct taxes in India. It was established under the Central Boards of Revenue Act, 1963, and is headquartered in New Delhi. Q: What is the significance of Section 295? A: Section 295 is a vital provision of the Income Tax Act, 1961, as it enables the CBDT to make rules that are necessary for the effective administration of the Act. These rules help to streamline the administration of the Act and ensure that taxpayers are able to comply with their obligations under the Act. Q: What is the process for making rules under Section 295? A: The CBDT may make rules under Section 295 after obtaining the approval of the Central Government. The rules must also be consistent with the provisions of the Income Tax Act, 1961, and must be reasonable and fair. Q: What happens if the CBDT makes a rule that is inconsistent with the Income Tax Act, 1961? A: If the CBDT makes a rule that is inconsistent with the Income Tax Act, 1961, the rule may be challenged in court, and the court may strike down the rule as invalid. Conclusion In conclusion, Section 295 of the Income Tax Act, 1961, is an essential provision that grants the CBDT the power to make rules that are necessary for the effective administration of the Act. The CBDT’s power to make rules is broad and covers all aspects of the administration of the Act. However, this power is not unlimited, and the CBDT must make rules that are subject to the control of the Central Government, consistent with the provisions of the Income Tax Act, 1961, and reasonable and fair. It is essential that taxpayers understand the provisions of the Income Tax Act, 1961, and comply with their obligations under the Act. The CBDT’s power to make rules under Section 295 helps to