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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>CBDT Circular Reforms Audit Objection Handling: Focus on Early Examination, Corrective Measures for Significant Revenue Losses.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) addresses the inefficiencies in handling audit objections by tax officers. It highlights that the current practice of seeking explanations from officers for audit-noticed mistakes has hindered objective examination and timely remedial actions. The Board recommends a revised procedure emphasizing early examination and corrective measures. Explanations should be sought from officers when mistakes involve significant revenue losses due to failure to follow departmental instructions, binding judicial decisions, or gross negligence. The circular mandates obtaining explanations if such failures lead to substantial and irretrievable revenue losses.
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