The scheme will be applicable to pending applications in respect of which the applicant has not exercised the option under sub-section (1) of section 245M of the Act and which has been allotted or transferred by the Central Board of Direct Taxes to an interim Board. “, CBDT said.
The proceedings before the Interim Board shall not be open to the public. No person other than the applicant, his/her employees and concerned officers of the Interim Board or the Income Tax Authority or authorized representatives may participate in the proceedings over video conferencing or video telephony without the permission of the Interim Board.
The notification said that the CBDT shall set up suitable facilities for video conferencing including telecom application software that supports video telephony.
The board in September allowed eligible taxpayers to file their income tax settlement claims before the Interim Board for Settlement on certain conditions.
The relief was given to those taxpayers who were eligible to file the application by January 31, 2021, but could not file it due to expiry of the application. Income Tax Settlement Commission As per the Finance Act 2021, and hence the submission of applications before the Interim Board was permitted till September 30, 2021.
The CBDT had held that an assessee should be eligible to file an application for settlement as on 31st January, 2021 for the assessment year for which the application is sought to be filed and all relevant assessment proceedings of the assessee shall be deemed to be the date of filing of the application. pending till date. for settlement.
The board said such applications, if found valid, would be treated as “pending applications” and would not be allowed to be withdrawn.