The government has assured that all Income Tax cases which have been finalized by the 1st of April this year will not be reopened.

This was stated by Finance Minister Pranab Mukherjee after inaugurating a new office of the Income Tax Department named Pratyaksh Kar Bhawan in New Delhi today. Mr. Mukherjee said, Central Board of Direct Taxes, CBDT has issued a circular in this regard.

Talking about the issue of transfer pricing and international taxation, Mr. Mukherjee said that a Committee has been constituted to resolve it. The group has held its first meeting on 25th of this month.

On the basis of the advice given by the Committee, a circular has been issued to avoid multi- level tax deducted at source. It was a concern expressed by NASSCOM. The Minister said that it has been taken care of.