In the present election scenario, Government is providing relief to the taxpayers. The government will soon start a first track settlement of cases related to refunds which will provide a great level of comfort and relief to the taxpayers.
The hearing on the matter of early settlement of the cases related to income tax appeal and the cases of taxpayer adjustments with their stock refunds will start from May 16th.
The hearing for the fast track cases will be held till 31st May and the pending cases will be settled thereon. As informed by the Central Board of Direct Taxes (CBDT), the hearings will be conducted between 16th May to 31st May 2019.
In the hearing, the assessment officers will give top priority to the cases related to the income tax (assessing officer) appeal and the pre-lunchtime will be utilised in meeting the applicants, their advocates and listening to the case.
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According to CBDT special attention will be given to the tax demand issued under Section 245 of the Income Tax Act, with which taxpayers are highly discontented.
Under section 245 of the Income Tax Act, tax administration can adjust the refund payable to the taxpayer with the tax initially demanded by him. The board has decided that the appeals and claims of taxpayers will be settled on the earliest basis during the fortnight from May 16th to May 30th 2019.
