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of <h1>Board Drops Low-Value Acquisition Cases to Speed Up Proceedings Under Chapter XXC, Amends Guidelines for Section 269D Cases.</h1> The Board has expressed concern over the backlog of acquisition proceedings under Chapter XXA of the Income-tax Act, 1961, replaced by Chapter XXC. The slow pace of case disposal may delay addressing significant cases. To streamline operations, the Board has decided to drop pending cases with apparent considerations of Rs.10 lakhs or less, allowing focus on more substantial cases. The circular also modifies previous guidelines, clarifying that acquisition proceedings initiated under Section 269D should be terminated in specific scenarios. The circular incorporates legal opinions regarding the jurisdiction of the Commissioner for revision, emphasizing the doctrine of merger in appeal cases.
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