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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Income Tax Department Sets New Procedures for Handling Audit Objections; Remedial Actions Required After Three Months.</h1> The circular outlines procedures for handling audit objections in the Income Tax Department. It mandates that remedial actions be considered in cases where audit objections are not accepted and remain unresolved after three months. Remedial actions should be initiated under specific sections and reviewed considering audit objections, rejoinders, assessee representations, and judicial decisions. Minor objections can be dropped with approval from the Range IAC, while major objections require approval from the IAC(Audit) or CIT, depending on tax effect thresholds. The circular also provides guidelines for addressing audit objections related to Board instructions, court decisions, and factual discrepancies. These instructions must be communicated to relevant officers.
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