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CBDT issues directive regarding Exchange of Information in time barring cases :The CBDT has issued an important directive on 22nd November 2018 to all thePrincipal Chief Commissioner of Income Tax and Director General of Income Tax (Inv.) regarding requests for exchange of information from field offices of time barring assessment cases. The Directive ofExchange of Information in time barring assessment cases is given below for reference.

CBDT issues directive regarding Exchange of Information in time barring cases

F.No.500/36/2017-FT&TR-IV(I)/2879 Government of India Ministry of finance Department of Revenue Central Board of Direct Taxes (Foreign Tax &Tax Research Division-IV) 7th floor, CWing Hudco Vishala Building, Bhikaji Cama Place. New Delhi, dt. 22 November, 2018. 1. All the Principal Chief Commissioner of Income Tax 2. All the Director General of Income Tax (Inv.) Sir/Madam, Sub: Request for Exchange of Information from field offices of time barring assessment cases reg. 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 concerned to send all requests for exchange of information getting time barred on 31.12.2018 to FT&TR Division latest by 30th November,2018. 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 officers. 4. This issues with the approval of Chairman, CBDT. Yours faithfully, Amrit Agrawal Under Secretary(FT&TR-IV(I) Tel:26179275 Source : itatonline.org