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of <h1>New guidelines for prosecuting major tax offences under Income Tax Act, 1961; focus on significant fraud, Sections 276B, 276C.</h1> The circular outlines guidelines for initiating prosecution proceedings under the Income Tax Act, 1961, focusing on significant tax offences to deter evasion. It emphasizes prioritizing cases involving substantial tax fraud and evidence fabrication. Prosecution is generally not pursued against individuals over 70 or in minor cases where evaded amounts are below specified thresholds. Specific sections, such as 276B and 276C, detail conditions under which prosecution is unnecessary, like minimal tax evasion or cooperation in document production. The instructions supersede previous guidelines and aim to streamline prosecution efforts, ensuring they are focused on impactful cases.
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