A Primer on Bankruptcy Protection
Faculty Of Law House
The CBDT is a statutory authority functioning under the Central Board of Revenue Act, 1963. The Central Board of Revenue as the department apex physique charged with the administration of taxes got here into existence because of the Central Board of Revenue Act, 1924. However, when the administration of taxes grew to become too unwieldy for one Board to handle, the Board was break up up into two, particularly the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from 1 January 1964. This bifurcation was brought about by constitution of…