Thursday 22 May 2014

Directions to raise standard of revisionary order u/s. 264 for CIT by CBDT

CBDT has passed an order u/s. 264 dated 16.05.2014. CBDT seeks to raise standard of revisionary orders under sec. 264; releases directions for the purposes to CIT. To detailed information read the following instruction :

SECTION 264 OF THE INCOME-TAX ACT, 1961 - REVISION OF OTHER ORDERS - ADMINISTRATIVE SUPERVISION OF ORDERS PASSED UNDER SECTION 264

INSTRUCTION NO.11/2014 [F.NO.279/MISC,/M-115/2013-ITJ], DATED 16-5-2014

Under Section 264 of the Income Tax Act, 1961 (hereinafter referred to as the Act) the Commissioner of Income Tax (CIT) may, either of his own motion or on an application made by the assessee, revise an order passed by an authority subordinate to him. The CIT may, before revising such, order, make enquiry or cause such enquiry to be made and subject to the provisions of the Act, pass such order which is not prejudicial to the assessee.

2. The statutory function under section 64 of the Act performed by the CIT is required to be reported by the CIT and also appraised by the supervisory Officers. Therefore, it has been decided to issue the following guidelines to be complied forthwith in respect of orders passed under section 264 of the Act:—
  • The CIT shall prepare a brief of the orders passed under section 264 of the Act and report the same to the principal Chief Commissioner of Income-Tax/Chief Commissioner of Income-Tax (CCIT) in the monthly DO letter along with a copy of such order.
  • The Pr. CCIT/CCIT shall report the number of orders Passed under section 264 of the Act by the CsIT under his/her jurisdiction along with his/her observation in relation to any order, if deemed fit, to the Zonal Member of the CBDT in the monthly DO letter. The Pr CCIT/CCIT shall also communicate his/her observation to the CIT.

3. The above Instruction may be brought to the knowledge of all concerned.

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