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of <h1>New Guidelines for Withdrawing Prosecution Under Direct Tax Laws: Section 271(1)(c) Clarifications and Approval Process Updated.</h1> The Central Board of Direct Taxes has revised its guidelines regarding the withdrawal of prosecution under Direct Tax Laws. Previously, Chief Commissioners were required to propose withdrawal if additions and penalties were deleted. Now, if prosecutions were initiated based on undisclosed income additions and penalties under section 271(1)(c), and these additions are later deleted, the department should withdraw prosecutions after consulting the Ministry of Law and obtaining the Finance Minister's approval. This modifies the previous circular from October 1995. Chief Commissioners should submit proposals in cases where appellate authorities have deleted additions and penalties, and the department has accepted these decisions.
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