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Income Tax Assessment

Latest Articles


Assessment of Trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025

CA, CS, CMA : Comprehensively assess trusts for A.Y 2022-2023, A.Y 2023-2024 and A.Y 2024-2025 by discussing key provisions, changes, and implic...

February 16, 2024 28227 Views 1 comment Print

Understanding High Pitch Assessment in Income Tax

Income Tax : Explore impact of high-pitch assessments in income tax on small taxpayers. Learn challenges they pose, the need for fairness, and ...

December 20, 2023 2388 Views 0 comment Print

Income Tax Assessment Proceedings against Deceased Persons

Income Tax : Legal responsibilities of deceased's representatives in income tax proceedings. Learn about Section 159 and key judgments shaping ...

December 12, 2023 2556 Views 0 comment Print

Income Tax Assessment of Association of Persons & Body of Individuals

Income Tax : Explore the nuances of Income Tax Assessment for Associations of Persons (AOP) and Bodies of Individuals (BOI) for the Assessment ...

July 9, 2023 14670 Views 0 comment Print

Assessment of Partnership Firms in Assessment Year 2022-23 to 2024-2025

Finance : Explore the assessment procedures for partnership firms in the upcoming years 2022-2023 to 2024-2025. Understand key provisions un...

July 4, 2023 6246 Views 0 comment Print


Latest News


KSCAA submits Probable resolutions to spate of high pitched assessments

Income Tax : Read KSCAA's representation to the Commissioner of Income Tax, addressing practical issues faced by taxpayers and suggesting solut...

December 9, 2023 2424 Views 0 comment Print

Indiscriminate Income Tax notices without allowing reasonable time

Income Tax : In view of Indiscriminate notices by income Tax Department without allowing reasonable time it is requested to Finance Ministry an...

March 20, 2022 12783 Views 0 comment Print

Extend Time Limit for Income Tax Assessment time barring on 31.3.2022

Income Tax : Lucknow CA Tax Practicioners Association has made a Representation to FM for Extension of Time Limit for Assessment cases time bar...

March 20, 2022 40797 Views 2 comments Print

FAQs on Issues faced by field users in Assessment module of ITBA

Income Tax : While uploading Manual order for the A Y 2017-18 user is getting the following message: Manual Order cannot be uploaded for this P...

November 30, 2019 7650 Views 2 comments Print

IT Scrutiny and assessment to get fully online in next two year

Income Tax : Tax collections increased from Rs 6.38 Lakh Crore in year 2013-14 to almost Rs 12 Lakh Crore this year  80% growth in tax base; n...

February 1, 2019 1164 Views 0 comment Print


Latest Notifications


CBDT notifies Prescribed Authority under Section 133C

Income Tax : CBDT notifies Prescribed Authority under Section 133C with effect from 13th August, 2020 vide Notification No. 66/2020, Dated: Aug...

August 13, 2020 2010 Views 0 comment Print

CBDT notifies 4195 Income Tax Authorities for Faceless Assessment

Income Tax : CBDT notifies 4195 Income-tax Authorities of Regional e-Assessment Centres to exercise the powers and functions of Assessing Offic...

August 13, 2020 2418 Views 0 comment Print

CBDT notifies 34 Authorities for Faceless Assessment

Income Tax : CBDT notifies 34 Authorities for Faceless Assessment vide Notification No. 64/2020, Dated: August 13, 2020. Government of India Mi...

August 13, 2020 2649 Views 0 comment Print

CBDT notifies Headquarter & Jurisdiction of 128 PCIT/CIT

Income Tax : CBDT notifies Headquarter & Jurisdiction of 128 Principal Commissioner/ Commissioner of Income-tax (PCIT/CIT) vide Notificatio...

August 13, 2020 5991 Views 0 comment Print

CBDT notifies revised jurisdictions of Principal CITs & CCITs

Income Tax : CBDT notifies revised Headquarters and jurisdictions of 56 Principal CITs & CCITs vide Notification No. 62/2020, Dated: August...

August 13, 2020 3021 Views 0 comment Print


Second Substantive Ground of Appeal against an Adjustment U/s 143(1)(A)(IV)

August 25, 2021 2562 Views 0 comment Print

In my previous article ‘The First Substantive Ground of Appeal against an adjustment u/s 143(1)(a)(iv)‘, the following propositions were advanced: ♦ Under the present Section 143(1) only processing of a return takes place and it is no longer an assessment. ♦ Processing of a return under Section 143(1) need not be done by the AO […]

First Substantive Ground of Appeal against Section 143(1)(a)(iv) adjustment

August 15, 2021 8433 Views 2 comments Print

The First Substantive Ground of Appeal against an adjustment made under Section 143(1)(a)(iv) It has been 15 years since the Income Tax Department hastily introduced e-filing, without proper testing and we CAs who filed the returns for our clients had to bear the brunt of the beta testing. Though e-filing was introduced in 2006, it […]

Tax Assessment: ‘Evidence Which Reveals’ : A New Conundrum?

June 21, 2021 3318 Views 2 comments Print

NEW REASSESSMENT PROCEDURE 1. Introduction: In the film JOLLY LLB, the judge, unforgettably played by actor Saurabh Shukla, in the concluding speech while delivering his judgment says: ‘But I am the judge. who knows what, what I feel, judgment cannot be given on that basis. I HAVE TO GIVE JUDGMENT ON THE BASIS OF EVIDENCE. […]

Toolkit For Faceless Income Tax Assessments

June 2, 2021 11772 Views 0 comment Print

The Faceless Assessment were introduced and made effective from 2020. The Central Government introduced the Scheme with noble intentions of tax transparency, moving towards a digital economy and reducing corruption looking towards greater transparency, efficiency, and accountability in Income Tax assessments. All provisions introduced under Faceless Assessment, under the Income Tax Act, 1961, are introduced […]

Assessment of Amalgamating Company

May 2, 2021 4812 Views 0 comment Print

Understanding the provisions: Let us take a look at the provisions of Income Tax Act 1961(here referred as ‘the Act’). As per section 2(1B) of the Act, one company can amalgamate or merge with another company wherein all the assets and liabilities of an amalgamating company are transferred to the amalgamated company which is the […]

Summary Assessment without Presence or Calling of an Assessee

April 9, 2021 4080 Views 1 comment Print

When an Assessing Officer complete assessment on the basis of return and other documents submitted by an assessee. In this process an Assessing Officer can complete assessment without passing a Regular Assessment Order. The presence of an assessee or his/her Authorised Representatives are not required.

CBDT specifies cases for section 144B Assessment

March 31, 2021 18063 Views 1 comment Print

CBDT hereby specifies that all the assessment proceedings pending as on 31.03.2021 and the assessment proceedings initiated on or after 01.04.2021 (other than those in the Central Charges and International Taxation charges) which fall under the following class of cases shall be completed under section 144B of the Act:-

Faceless ITAT- Whether Denial of Oral Hearing is in Violation of Principles of Natural Justice

February 16, 2021 13113 Views 7 comments Print

Decision to deny oral hearing at the income tax appellate stage needs to be reconsidered as otherwise the same shall not only be in violation of the principles of natural justice but the same shall also suffer from the vice of unfairness.

Reduction of time limit for completing Income Tax assessment

February 4, 2021 18228 Views 0 comment Print

Budget 2021- Section 153 of the Act contains provisions in respect of time-limit for completion of assessment, reassessment and re-computation under the Act. The sub-section (1) of the said section provides that the time-limit for passing an assessment order under section 143 or 144 of the Act shall be 21 months from the end of […]

New Procedure for Income escaping & search assessments

February 4, 2021 24126 Views 0 comment Print

Under the Act, the provisions related to income escaping assessment provide that if the Assessing Officer has reason to believe that any income chargeable to tax has escaped assessment for any assessment year, he may assess or reassess or re­compute the total income for such year under section 147 of the Act by issuing a […]

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