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TMI BlogDemonetisation of high denomination bank notes.X X X X Extracts X X X X X X X X Extracts X X X X ..... er to ensure that the objects of the ordinance are fulfilled speedily and effectively, guidelines regarding action to be taken immediately have been issued vide the Board's telex/telegram F.No.414/3/78-IT(Inv), dated 17th January, 1978 (Printed below). As advised therein, the planning and coordination of all work relating to the Ordinance is to be done by the Commissioner and in multiple Commissioner Charges by Commissioner I. the declaration tendering the high denomination notes is to be made in triplicate. it is presumed that as suggested in the above telex/telegram, arrangements have already been made to collect one copy each of the declaration from the banks and further action, as suggested therein, for survey of the business premises o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax Officers dealing with the declarations to stick to schedule. Likewise, owners of notes of the total value of Rs.10,000 or more who derive income from sources other than business, may be examined under section 131 with reference to the declaration made by them or on their behalf. This work is to be attended to with speed, the object being that along with the information contained in the declaration and that elicited through survey under section 133A and/or under section 131, a complete explanation on the source of relevant funds should be available from the declarant and if any of the notes tendered are alleged to represent borrowings, from the person(s) from whom money is alleged to have been borrowed. 3. Enquiries regarding declaratio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . In respect of persons who are assessed in the Central Charges, these enquiries will be made by the assessing officers themselves under the immediate guidance of the IACs and CsIT. In other Charges, while the assessing Income-tax Officers will conduct the enquiries in respect of declarations involving amounts below Rs.25,000 under the guidance of their IACs., cases involving declaration of Rs.25,000 or more will be enquired into by the Assistant Directors of Inspection in consultation with their respective DDIs (or IACs. where there is no DDI)/CIT. In cases where investigations are already being made under the supervision of the Director of Inspection (Investigation) or Director of Inspection (Special Cell), the enquiries will be made unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ster of the declarations received by him in the proforma annexed (Annexure II); a simplified register being maintained by the IACs/Cs.I.T. as per Annexure III. For and from the month of February, 1978, a monthly progress report regarding disposal of these cases will be made by all Commissioners of Income-tax to Director of Inspection (Research Statistics) in the form annexed (Annexure IV) so as to reach him by 10th day of the following month. The D.I. (R S) will issue a monthly review showing Chargewise progress of work by the 15th for circulation to all the Commissioners and the Board. Commissioners of Income-tax will also advise the D.I(Inv) in a brief narrative form at monthly intervals as to the progress of enquiries in respect of d ..... X X X X Extracts X X X X X X X X Extracts X X X X
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