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TMI BlogStandard Operating Procedure (SOP) for handling Suspicious Transaction Reports (STRs).X X X X Extracts X X X X X X X X Extracts X X X X ..... rs received by the Board in paper format were sent to the DGIT (l&CI), who, in turn, disseminated the same to the jurisdictional DsGIT (Inv). The DsGIT (Inv) cause investigation into the STRs through investigating officers below and send feedback to Investigation IV Branch of the Board. 3. FIU-IND has now introduced the process of on-line dissemination of STRs called FIN-NET, details of which have been conveyed separately. The nomenclature of categorization of STRs by FIU-IND also has undergone change and instead of Category A and others, the new categorization is P1, P2, P3, indicating the priority. The feed-back etc also will be on-line in the new system. In the new system, Director/DS(Inv. IV) CBDT is the Nodal Officer who will be sendi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atabase with secure back-up) : i) Serial no. (starting from beginning of financial year) ii) Name of the main person in the reported transaction iii) PAN of the main person in the reported transaction iv) STR no. assigned by FIU v) Whether any other STR has been received against the same person. If yes, number thereof vi) Date of receipt of the STR vii) Category assigned viii) Due date for sending the feedback to the Board ix) Date of sending feedback x) Unit to which disseminated xi) Date of dissemination to DIT/Addl/Joint DIT unit xii) Date within which report from Addl/Joint DIT unit has been called xiii) Nature of action taken (search, survey, open inquiry) xiv) Brief results of action taken (concealment dete ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sfaction, the same can be closed without undertaking any further inquiry and feedback should be sent. vii. If open inquiries are to be made, clarification of the assessee should be asked at the initial stage itself on specific issues. Notice u/s 131 (1A) of income Tax Act. 1961 may be issued in accordance with the law calling for specific details necessary for the issues under inquiry. Calling for general details not germane to the subject matter are avoidable. Personal attendance should be avoided, as far as possible. Repeated personal attendance is certainly avoidable. Production of books of accounts and other documents for 6 years should not be insisted upon as a matter of routine. The nature and extent of enquiries should be commensur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he month
Pending at the end of the month
Pending for more than 120 days, out of col.6
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xiv. The above guidelines are not exhaustive. The Addl DsIT/JDIT may take suitable decision on a case to case basis for the situations not stated above. But in doing so, he shall follow the general principles enunciated in the above guidelines so that the investigation process is expeditious and purposeful.
7. The above guidelines may be brought to the notice of all concerned for due compliance.
(R.K.Yadav)
Commissioner (Inv)
Tele-fax : 011-23092177
e-mail : [email protected] X X X X Extracts X X X X X X X X Extracts X X X X
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