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of <h1>CBDT Halts Assessment and Recovery for Section 80HHC Deduction Claims on DEPB Scrips Until June 30, 2005.</h1> The Central Board of Direct Taxes (CBDT) has instructed all Chief Commissioners and Directors General of Income-tax to suspend assessment and recovery proceedings related to the reassessment of claims for deduction under section 80HHC of the Income-tax Act, 1961, concerning profits from the sale of DEPB scrips. This suspension is effective until June 30, 2005. However, notices under section 148 may still be issued if necessary. The instructions do not apply to cases approaching the limitation period before June 30, 2005, although recovery proceedings in such cases should also be suspended until that date.
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