INCOME TAX

U/S 143 of the Income-Tax Act, 1961 - Request for exchange of information from field offices of time barring assessment cases.

DATED 6-1-2015

The undersigned is directed to state that large number of requests for Exchange of Information (EOI) in time barring assessments/matters are received in FT&TR Division just before the time barring date. It becomes difficult to process and forward such requests after due scrutiny to the Foreign Competent Authority in time. Further, in many cases the EOI requests are not properly drafted/prepared and modification of these requests by the field officers is required.

2. You are therefore requested to direct Officers/CsIT concerned to send all requests for exchange of information getting time barred on 31.03.2015 to FT&TR Division latest by 15th of February 2015. References beyond this date may be sent only in unavoidable circumstances. In this manner, deficiencies, if any, can be removed and modified/correct EOI Proforma can be sent to the Foreign Competent Authority in time.

3. You are requested to bring this to the notice of all the CsIT/Officers.

4. This issues with the approval of Chairperson, CBDT.

LETTER (F.NO.500/56/2014-FT&TR-IV]