section 143(3)

CBDT Strategy to ensure Quality in Assessment Work for 2016-17

Income Tax - Framing of Quality Assessments is an essential part of any risk management strategy. Quality of Assessments is being used as one of the most important indicator to judge the performance of tax department. Therefore, it is imperative that various authorities in the hierarchy of Income-tax Department discharge their respective roles in the ...

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Treatment of a fresh claim of an assessee before completion of assessment

Income Tax - Whether an assessing officer is required to entertain and consider a fresh claim or a modification in a claim made at any time before the completion of assessment u/s 143(3) of the income-tax act....

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FAQs on Assessments under Income-Tax Act, 1961

Income Tax - ​Under the Income-tax Law, there are four major assessments as given below: 1. Assessment under section 143(1), i.e., Summary assessment without calling the assessee i.e. taxpayer. 2. Assessment under section 143(3), i.e., Scrutiny assessment. 3. Assessment under section 144, i.e., Best judgment assessment. 4. Assessment under section 1...

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Types of Notices under Income Tax Act, 1961

Income Tax - Notice under Section 142(1) is usually served to call upon documents and details from the tax payers, and to take a particular case under assessment. The basic purpose is to inquire the details of the assessee before making assessment under the Act. It can be related to ‘Preliminary Investigation’ before starting the assessment....

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Scrutiny on the basis of data in Annual Information Return (AIR)

Income Tax - CA. M. Lakshmanan As per notification F.No. 225/26/2006-ITA.II (Pt.) dated 8th September 2010 scope of enquiry in the scrutiny cases selected on the basis of information collected from AIR returns would be limited to the aspects of information received through AIR....

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Allow making of fresh claim during assessment proceedings

Income Tax - It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed under section 139. Where the assessee makes a claim of any expenditure or a deduction during the assessment proceedings which had not been made in the return of income […]...

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Format of details to submitted during Income Tax Assessment

Income Tax - We have attached a file in excel format. The file contains the format of various details which normally assessing officer asks Assessee to furnish during Scrutiny Assessment U/s. 143(3) of the Income Tax Act, 1961. We have attached the format of following details :-...

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Assessment U/s. 147 not valid when time for scrutiny assessment U/s. 143(3) not lapsed

Krypton Industries Ltd. V/s. DCIT (ITAT Kolkata) - Krypton Industries Ltd. V/s. DCIT (ITAT Kolkata)- Whether the action of AO for framing the assessment under section 147 is within his jurisdiction though the time for scrutiny assessment under section 143(3) has not lapsed. ...

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Assessment U/s. 143(3) despite non compliance of Notices is valid: HC

Punjab & Haryana High Court held In the case of Subhash Chander vs. CIT that it is open for the AO to complete assessment either u/s 144 or u/s 143(3), in case compliance of notice has not been done by the assessee....

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Disclosure of Income after Search at sister concerns office cannot be called voluntary

High Court Calcutta held in CIT Vs Balampur Chini Mills Pvt Ltd that even if the assesse had voluntary disclosed its income by filing revised ROI though not detected by the revenue during scrutiny proceedings u/s 143(3), penalty u/s 272(1)(c) would be levied. Even if the assesse had disclosed its co...

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Review u/s 254(2) only if there is a mistake apparent from the record

If the AO had reopened the assessment and made a disallowance and these facts could affect the outcome of the issue, the AO should appear before the FAA to file an explanation about the chronology of events. But, in any manner the subsequent decision taken by the AO cannot be held to be a mistake a...

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Re-assessment proceedings concluded us/ 147 are invalid if notice u/s 143(2) is not issued

ITO Vs. M/s Staunch Marketing Pvt. Ltd. (ITAT Delhi) - The issue in dispute raised in additional ground relating to non issue of the mandatory notice u/s. 143(2) of the Act is decided in favour of the assessee and we hold that the impugned assessment order dated 31.12.2009 passed u/s. 147/143(3) of the Act by the AO as invalid....

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No processing of returns for I-T refund if selected for Scrutiny

Instruction No.1/2015 - (13/01/2015) - Instruction No.1/2015 Clarification regarding applicability of section 143(1D) of the Income-tax Act, 1961- Vide Finance Act, 2012, section 143(1D) was introduced in income tax act which prohibited processing of income tax returns in case notice u/s 143(2) has been issued (i.e. scrutiny cases). Ambi...

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Recent Posts in "section 143(3)"

CBDT Strategy to ensure Quality in Assessment Work for 2016-17

Framing of Quality Assessments is an essential part of any risk management strategy. Quality of Assessments is being used as one of the most important indicator to judge the performance of tax department. Therefore, it is imperative that various authorities in the hierarchy of Income-tax Department discharge their respective roles in the ...

Read More
Posted Under: Income Tax |

Treatment of a fresh claim of an assessee before completion of assessment

Whether an assessing officer is required to entertain and consider a fresh claim or a modification in a claim made at any time before the completion of assessment u/s 143(3) of the income-tax act....

Read More
Posted Under: Income Tax |

Allow making of fresh claim during assessment proceedings

It has been observed that in many cases an assessee may wish to make a claim which was not made in the return of income filed under section 139. Where the assessee makes a claim of any expenditure or a deduction during the assessment proceedings which had not been made in the return of income […]...

Read More
Posted Under: Income Tax |

Assessment U/s. 147 not valid when time for scrutiny assessment U/s. 143(3) not lapsed

Krypton Industries Ltd. V/s. DCIT (ITAT Kolkata)

Krypton Industries Ltd. V/s. DCIT (ITAT Kolkata)- Whether the action of AO for framing the assessment under section 147 is within his jurisdiction though the time for scrutiny assessment under section 143(3) has not lapsed. ...

Read More

Assessment U/s. 143(3) despite non compliance of Notices is valid: HC

Punjab & Haryana High Court held In the case of Subhash Chander vs. CIT that it is open for the AO to complete assessment either u/s 144 or u/s 143(3), in case compliance of notice has not been done by the assessee....

Read More
Posted Under: Income Tax |

Disclosure of Income after Search at sister concerns office cannot be called voluntary

High Court Calcutta held in CIT Vs Balampur Chini Mills Pvt Ltd that even if the assesse had voluntary disclosed its income by filing revised ROI though not detected by the revenue during scrutiny proceedings u/s 143(3), penalty u/s 272(1)(c) would be levied. Even if the assesse had disclosed its concealed income with a view to safe itsel...

Read More
Posted Under: Income Tax |

FAQs on Assessments under Income-Tax Act, 1961

​Under the Income-tax Law, there are four major assessments as given below: 1. Assessment under section 143(1), i.e., Summary assessment without calling the assessee i.e. taxpayer. 2. Assessment under section 143(3), i.e., Scrutiny assessment. 3. Assessment under section 144, i.e., Best judgment assessment. 4. Assessment under section 1...

Read More
Posted Under: Income Tax |

Types of Notices under Income Tax Act, 1961

Notice under Section 142(1) is usually served to call upon documents and details from the tax payers, and to take a particular case under assessment. The basic purpose is to inquire the details of the assessee before making assessment under the Act. It can be related to ‘Preliminary Investigation’ before starting the assessment....

Read More
Posted Under: Income Tax |

Review u/s 254(2) only if there is a mistake apparent from the record

If the AO had reopened the assessment and made a disallowance and these facts could affect the outcome of the issue, the AO should appear before the FAA to file an explanation about the chronology of events. But, in any manner the subsequent decision taken by the AO cannot be held to be a mistake apparent from the record. As there is no ...

Read More
Posted Under: Income Tax |

Re-assessment proceedings concluded us/ 147 are invalid if notice u/s 143(2) is not issued

ITO Vs. M/s Staunch Marketing Pvt. Ltd. (ITAT Delhi)

The issue in dispute raised in additional ground relating to non issue of the mandatory notice u/s. 143(2) of the Act is decided in favour of the assessee and we hold that the impugned assessment order dated 31.12.2009 passed u/s. 147/143(3) of the Act by the AO as invalid....

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