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of <h1>Income-Tax Directorate Reviews Unauthorized Relief Claims by Sick Companies Under Rehabilitation Schemes; Requires CBDT Approval.</h1> The Directorate of Income-Tax (Recovery) addresses the issue of sick companies claiming reliefs in their income tax returns as per Rehabilitation Schemes sanctioned by the Board for Industrial and Financial Reconstruction (BIFR). These schemes, under the now-repealed Sick Industrial Companies Act, 1985, often propose reliefs beyond the Income-tax Act, 1961. Such reliefs require approval from the Central Board of Direct Taxes (CBDT) and are not automatic. Assessing Officers are instructed to review company records to ensure no unauthorized reliefs have been claimed and to take corrective actions if necessary.
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