[Opinion] Suggestions for Direct Tax Committee for Making Necessary Changes in IT Act Provisions Relating to Prosecution
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- By Chetan Kulasri
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- Last Updated on 25 October, 2024
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Ruchesh Sinha – [2024] 167 taxmann.com 592 (Article)
In the 2024 Budget speech, the Finance Minister announced a comprehensive review of the Income Tax Act to make it concise, lucid, and easy to understand and reduce litigation. Accordingly, the apex body that administers the income tax, the Central Board of Direct Tax (‘CBDT’), has formed an internal committee to review the IT Act and invited comments. The present article highlights the prosecution provision of the IT Act, which requires an overhaul to achieve the objective mentioned by the finance minister.
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