CBDT extends time for assessing officer to issue orders and intimations

Any order for assessment or reassessment under the Income-tax Act, any assessment order as per directions of dispute resolution panel, issue of notice when assessment officer comes to possession of material evidence against the assessee who has evaded income assessment in a given year and sanction of Principal Chief Commissioner or Chief Commissioner or Principal Commissioner or Commissioner to assessing officer for issue of such notice can be issued till June 30, 2021

The Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies) (Second Amendment) Regulations, 2021.

The Amendment is brought under clause 12A which specifies the Authorisation for Assignment in which if the authorisation for assignment is not issued, renewed or rejected by the Agency within fifteen days of the date of receipt of application, the authorisation shall be deemed to have been issued or renewed, as the case may be, by the Agency.