Time schedule for submission of proposals to the Board - Income Tax - 540/CBDT

INSTRUCTION NO. 540/CBDT Dated : April 13, 1973 Section(s) Referred: 256 ,261 Statute: Income - Tax Act, 1961 Instructions were issued to the Commissioners of Income-tax vide Board's F.No.91/47/68-ITJ(4) dated 14th October, 1968 to ensure that their proposals for references and appeals reach the Board as per the following time schedule:- (a) Reference applications U/s 256(1) or u/s 256(2) -4 weeks before the expiry of the limitation period. (b) Applications for leave to appeal to Supreme Court and Special Leave petitions-6 weeks before the expiry of the period of limitation. 2. It is notified that this time schedule for submission of proposals to the Board is not being adhered to by most of the Charges. Proposals are received in the Board's office only at the fag end of the limitation period leaving very little time to process these references. It is reiterated that the above time schedule should be strictly adhered to. 3. It is further observed that some of the Charges send proposals for references and appeals to the Board only after filing the reference/appeal provisionally. The Board disapprove of this practice. Save in exceptional cases where such action has to be taken to save limitation, proposals for references and appeals should be cleared by the Board before they are filed. 4. Board's instructions in the matter should be strictly followed.