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of <h1>New System for Audit Objections: Commissioners to Guide Income Tax Officers on Timely Remedial Actions for Revenue Protection.</h1> The Board has identified instances where delayed actions by Income Tax Officers (ITOs) have led to the loss of potential revenue due to time-barred rectifications. Routine use of Section 154 for remedial actions has often been overturned by appellate authorities. To address this, a selective control system is introduced for audit objections involving significant revenue. Commissioners are tasked with examining objections and guiding ITOs on appropriate actions within a month. The choice of remedial action under Sections 154, 147, or 263 should be carefully considered to protect revenue interests. The Board emphasizes adherence to these instructions to prevent revenue loss.
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