Raising the Monetary Ceilings for Write-off and Reconstitution of Committees.

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....us Income-tax authorities to write-off irrecoverable dues of income tax were enhanced and the level of authority whose administrative approval would be required for write-off was re-defined by instructions No. 14/2003 dated 06.11.2003. In partial modification of the said instruction, the Board has revised the prescribed monetary ceilings for write-off of recoverable dues of Direct Taxes by the var....

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.... Demand upto Rs. 25 Lacs CCIT with the approval of Full Board Demand upto Rs. 50 Lacs CCIT with the approval of Full Board and the Finance Minister Demand over Rs.50 Lacs 3. It is further clarified that any proposal for write-off of irrecoverable demand, which has already been recommended by a Zonal Committee or a Local Committee constituted as per the provisions of the earlier in....

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.... 3 officers of the level of CIT Cadre Controlling CCIT (under intimation to Board) Commissioner of WT/GT/Exp. Tax/Intt. Tax/Est. Duty Up to Rs.5 Lacs Zonal Committee 3 officers of the level of CCIT CBDT Chief Commissioner of WT/GT Exp. Tax/Intt. Tax/Est. Duty Up to Rs.10 Lacs 5. It may be clarified that writing-off of recoverable dues of revenue would not lead to a re....