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The Central Board of Direct Taxes issues the Income-tax (First Amendment) Rules, 2014 to amend rule 44CA of the Income-tax Rules, 1962. The amendment updates sub-rule (1) to include annexures and statements. The amendment replaces sub-rules (2) and (3) to require the Settlement Commission to send material, information, enquiry results, and recorded evidence to the Commissioner under specific conditions.
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[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (ii)]
GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) CENTRAL BOARD OF DIRECT TAXES
Notification New Delhi, the 15th January, 2014
S.O. 108 (E). ─ In exercise of the powers conferred by section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-
(1) These rules may be called the Income –tax (1st Amendment) Rules, 2014. (2) They shall come into force on the date of their publication in the Official Gazette.
In the Income-tax Rules, 1962, in rule 44CA, ─
(a) in sub- rule (1), for the bracket and words “(other than the Annexure and the statements”, the bracket and words “(including the Annexure and the statements” shall be substituted;
(b) for sub-rule (2), the following sub-rules shall be substituted, namely:─
`(2) Where an application has not been declared invalid under sub-section (2C) of section 245D or an application has been allowed to be further proceeded with under sub-section (2D) of that section, all the material and other information produced by the assessee before the Settlement Commission shall be sent to the Commissioner to enable him to furnish the report under sub-section (3) of section 245D.
(3) Where the proceeding before the Settlement Commission abates, the Commission shall send, all the material and other information produced by the assessee before the Commission and the results of any enquiry held or evidence recorded in the course of proceedings before it, to the Commissioner.'.
[Notification No. 5/2014][F.No.142/32/2013-TPL]
[Ashis Mohanty]
Under Secretary to Government of India
Note: - The principal rules were published in the Gazette of India, Extraordinary, vide notification S.O. 969 (E), dated 26th March, 1962 and last amended by the Income-tax (19th Amendment) Rules, 2013 vide notification S.O. 3794 (E) dated the 23rd December, 2013.
