Write off of irrecoverable arrears.

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....-tax arrears are as under :- (i) between Rs. 1 lakh : and The Commissioner of Income-tax 10 lakhs. (ii) between Rs.10 lakh & Individual Members of the Board 25 lakhs. (iii) between Rs. 25 lakhs & Full Board. Rs. 50 lakhs. (iv) Above Rs. 50 lakhs Full Board with the prior approval of the Minister. The exercise of the above powers, however, is regulated by the various inst....

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.... write-off the total amount of tax arrears should be worked out after including interest chargeable for late payment of tax upto the end of the month preceding the month in which the proposal is considered by the Zonal Committee. The question whether the TRO's interest under section 220(2) should be included in working out tax arrears was examined in consultation with the Ministry of Law. The Mini....