Ad-hoc procedure for writing of arrears of Rs. 500 and below.

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..... address of the assessee and his assessment/recovery records had not been available for 10 years. The Board have been receiving suggestions from some Commissioners of Income-tax to the effect that the monetary limit fixed was rather low and required to be increased. 2. The matter has been examined by the Board at length. In supersession of the existing Instruction No. 267 dated 30-1-1971 referre .....

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..... ars preceding the financial year in which the demand is to be written off. The I.A.C. should certify that the responsibility for the loss of records cannot be fixed; (ii) The demand has been outstanding for at least 5 years preceding the financial year in which the same is to be written off and that there has been no recovery during the said 5 years; (iii) In case the demand outstanding is Rs. .....

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..... he quarterly statement of demand collection and arrears. The first statement should be for the quarter ending 30th June, 1976. 4. For the implementation of the procedure set out above, you are requested to issue necessary instructions to all the IACs./ITOs. in your charge so that the infructuous arrears involved in such cases are written off, as soon as possible and are not unnecessarily carried .....

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