Letter to assessing officers: Don’t go overboard, CBDT tells field units- Rakesh Nangia

The Central Board of Direct Taxes (CBDT) has sent a missive to all assessing officers (AOs) to stick to protocol while pursuing cases of “limited scrutiny” and not resort to “fishing and roving inquiries” in such cases. The move comes at a time when the tax department’s field formations have apparently been on an overdrive after the demonetisation move brought large chunks of supposedly tax-evaded cash into the banking system.

Rakesh Nangia, Managing Partner shares his views on CBDT shoots off letter to taxmen, says don’t go overboard on fishing and roving inquiries in wake of demonetisation drive for Financial Express.

http://www.financialexpress.com/economy/cbdt-shoots-off-letter-to-taxmen-says-dont-go-overboard-on-fishing-and-roving-inquiries-in-wake-of-demonetisation-drive/957134/