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of <h1>CBDT Circular: Commissioners Can Independently File Reference Applications u/s 256(1), Focus on Reducing Low-Impact Cases.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) on July 23, 1985, addresses the procedure for filing Reference Applications under section 256(1) of the Income Tax Act. It notes that the requirement for Board approval before filing such applications was discontinued in 1980, allowing Commissioners to independently decide on Tribunal decisions. The document emphasizes reducing unnecessary applications, particularly those with a tax effect below Rs. 1,000, by adhering to monetary limits. Commissioners are required to submit quarterly reports detailing cases involving Reference Applications, including those with minimal tax effects, to their zonal member.
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