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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>CBDT Issues New Guidelines for Tax Evasion Investigations Under Income Tax Act, 1961; Focus on Shares and Banking Irregularities.</h1> The Central Board of Direct Taxes (CBDT) issued instructions for investigating tax evasion under the Income Tax Act, 1961, particularly in cases involving irregularities in shares, securities, and banking. Information is sourced from media, CBI reports, and RBI inquiries. Assessing officers, also acting as investigators, are urged to act on information received. Comprehensive guidelines are challenging due to the complexity and spread of cases across various jurisdictions. Chief Commissioners and Commissioners are instructed to thoroughly examine cases, prepare background notes, and coordinate with the Investigation Wing. Urgent action is required, and progress must be reported to the Joint Parliamentary Committee and senior officials.
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