644/CBDT. - Income Tax - 644/CBDT

INSTRUCTION NO. 644/CBDT Dated : January 9, 1974 Section(s) Referred: 269D Statute: Income - Tax Act, 1961 No time-limit has been laid down in Chapter XXa of the Income-tax Act, 1961 for the completion of the proceedings initiated by the Competent Authority by the issue of a notice u/s 269D of the Act. However, the Board desire that these proceedings should be expeditiously completed and in any case, as a rule, the proceedings should be completed within a period of two years from the date of initiation of the proceedings. In cases, where the proceedings can not be completed within the period of two years, the reasons for delay should be recorded by the Competent Authorities and the Commissioner concerned should satisfy himself about the validity of these reasons. 2. These instructions should be brought to the notice of the Competent Authorities and compliance should be ensured.