TaxTMI 
TaxTMI 
Clarifications regarding scope & applicability of Sec.271(4A)/273A(1).
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....cability of sec.271(4A)/273A(1) of the I.T.Act. The instructions on the subject have been reviewed and the decisions of the Board are given below:- 1) Board's Instructions contained in confidential letter F.NO.1/33/68- IT(INV)., dated 29th September, 1969- The clarifications in the said instructions are in conformity with the legal position contained in sec.271(4A)/273A(1) of the I.T.Act. Certa....
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....ifications will apply to para 16(x) also. That is to say if the petition is to be rejected, the information about wrong totalling should be supported by evidence justifying a reasonable belief of concealment and in the relevant assessment order the items on account of wrong totalling and referred to in the statement of the informant have been included. ii) Paras 16(ix),16(xi) and 16(xii): The c....
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....re the disclosures are made after a search in which unaccounted cash or other incriminating documents are discovered. The question whether the disclosure was voluntary and prior to detection would again depend on the finding in the relevant assessments completed after the search in the course of which cash/jewellary/other valuables/books of accounts/documents have been seized, A disclosure u/s.....
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....de a voluntary disclosure. (3) The Board also examined a reference regarding the lack of statutory power for settlement of cases by the Commissioners. U/s.119(3) of the I.T.Act the CIT can give only general guidance to an ITO. The question of amendment of law to give Commissioners the power to direct the ITO to complete a particular assessment or pass any other statutory order in the manner lai....