CBEC's Draconian Circular -Target Oriented Scheme - Likely to be Withdrawn After 31.03.2013
CBEC's draconian Circular No.967/01/2013-CX dated 01.01.2013 has evoked all round resentment and has sent a chill down the spines of assessees. There is a mad scramble to catch hold of the first available lawyer to rush to the jurisdictional High Court to get a stay.
It appears the whole exercise by the Board is simply to boost up the revenue in the last three months of the Financial Year and after 1st April 2013, by which date they hope to hit their target and satisfy the FM, the Circular would perhaps be given a decent burial. Grin and bear it till 31st March.