All fresh cases arising out of the retrospective amendments of 2012 in direct transfers will be scrutinized by High level committee to be constituted by the CBDT before any action is initiated in such cases. Announcing this during his Budget Speech in the Lok Sabha today, Finance Minister Shri Jaitley said that the Government is committed to provide a stable and predictable taxation regime that would be investor friendly and spur growth. 

The Finance Minister hoped that the investor community both within India and abroad would repose confidence on the Government’s stated position and participate in the Indian growth story with renewed vigour.