Observations of the Public Accounts Committee(PAC). - Income Tax - 1201/CBDT

INSTRUCTION NO. 1201/CBDT Dated : September 2, 1978 The observations of the Public Accounts Committee(PAC) contained in para 3.56 are reproduced below:- After considering the facts placed before them, the committee are left with a feeling that the ITO concerned did not attach to the circular of Board indicating the lines on which assessment in respect of sugar mills should be made the importance that it deserved. They are unable to share the view expressed by the ITO that the fact that it had been failed in the file itself would go to show that it had been taken into consideration while completing the assessment . This laconic approach has to be depreciated. The Board desire that the observations of the PAC should be taken note of, by all officers in your charge. It need hardly be emphasised that the Board's instructions and circulars issued to the field officers should be given due importance by the field officers as they are statutorily binding on them.