Dispute Resolution Committee (Constitution) - Section 245MA(1)

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..... tigated by the Finance Act, 2021 by inserting section 245MA with effect from April 1, 2021. In order to dispose off the pending settlement applications as on 31.01.2021, The Central Government has constituted Seven Interim Boards for Settlement vide Notification No. 91 of 2021 dated 10.08.2021. Constitution of DRC - Section 245MA(1) The Central Government shall constitute, one or more Dispute Reso .....

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..... the post of Commissioner of Income-tax or any equivalent or higher post for five years or more; and - (b) one serving officer not below the rank of Principal Commissioner of Income-tax or Commissioner of Income-tax as specified by the Board. The members shall be appointed by the Central Government for a period of three years . The decision of the Dispute Resolution Committee shall be by majority . .....

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