CBDT

Considering the objective of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BM Act), the assessment is to be completed at the earliest possible without keeping the same pending till the time barring date, the Central Board of Direct Taxes (CBDT) said in a set of guidelines issues earlier.

In the complaint to the CBI, Munish Gupta, Additional Director General (Vigilance), CBDT said that Tanaji Mandal Adhikari and Bhushan Anant Patil have entered into a criminal conspiracy and intentionally and fraudulently managed to give credits for taxes deducted at source. Adhikari has contrived and criminally conspired with other persons to get issued refunds exceeding Rs 263 crore fraudulently which were deposited in the bank account of proprietary concern of Patil located at Panvel, Mumbai.

Being the head of the tax administration board, the CBDT Chairman will coordinate and exercise overall supervision of the body, including getting updates on matters related to tax investigations. In an office order issued by the Department of Revenue, CBDT's Member, Investigation, has been made sole authority to exercise supervision over all Directorates General of Income Tax (Investigation), Chief Commissioners of I-T and Directorates General of Income Tax (Intelligence & Criminal Investigation).