Interim Board for Settlement created to resolve pending tax applications via three member panels deciding by majority. A new provision authorises the Central Government to constitute one or more Interim Board for Settlement panels to settle pending income tax applications; each Board will be a three member panel composed of officers of Chief Commissioner rank nominated by the Board, and any point on which members differ shall be decided by the opinion of the majority, with the amendment given retrospective effect to early February 2021.
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Interim Board for Settlement created to resolve pending tax applications via three member panels deciding by majority.
A new provision authorises the Central Government to constitute one or more Interim Board for Settlement panels to settle pending income tax applications; each Board will be a three member panel composed of officers of Chief Commissioner rank nominated by the Board, and any point on which members differ shall be decided by the opinion of the majority, with the amendment given retrospective effect to early February 2021.
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