section 143(3)

Assessments under Income-Tax Act, 1961

Income Tax - Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. ...

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Understanding Section 143 of Income Tax Act, 1961

Income Tax - An assessee is required to file an income tax return under Section 139 or in response to notice under section 142, consisting all the details of income earned during the previous year. Once the return is filed the next step of Income tax department is to examine the return for its correctness. This examination is known as Assessment....

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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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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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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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Reopening of assessment beyond a period of 4 years to make fishing inquiries not justified

Crescent Construction Co. Vs. Asst. CIT (ITAT Mumbai) - The primary condition of reasonable belief having nexus with the material on record is still operative. However, we are of the view, that mere fresh application of mind to the same set of facts or mere change of opinion does not confer jurisdiction to the assessing officer even under the post-1989 ...

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Order u/s 143(3) r.w.s.153A Void if AO erred in assuming jurisdiction u/s 153A

Shri Fazal Sarang Vs DCIT (ITAT Mumbai) - AO's assumption of jurisdiction under section 153A of Income Tax Act,1961 and consequent passing of order of assessment u/s. 143(3) r.w.s. 153A is void if Assessing Officer erred in assuming jurisdiction u/s 153A...

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

Krypton Industries Ltd. Vs 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

Subhash Chander Vs CIT (Punjab & Haryana High Court) - 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

CIT Vs Balampur Chini Mills Pvt Ltd. (Calcutta High Court) - 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. ...

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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)"

Reopening of assessment beyond a period of 4 years to make fishing inquiries not justified

Crescent Construction Co. Vs. Asst. CIT (ITAT Mumbai)

The primary condition of reasonable belief having nexus with the material on record is still operative. However, we are of the view, that mere fresh application of mind to the same set of facts or mere change of opinion does not confer jurisdiction to the assessing officer even under the post-1989 section 147 of the Act. ...

Read More

Assessments under Income-Tax Act, 1961

Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing up his return of income. Once the return of income is filed up by the taxpayer, the next step is the processing of the return of income by the Income Tax Department. ...

Read More

Order u/s 143(3) r.w.s.153A Void if AO erred in assuming jurisdiction u/s 153A

Shri Fazal Sarang Vs DCIT (ITAT Mumbai)

AO's assumption of jurisdiction under section 153A of Income Tax Act,1961 and consequent passing of order of assessment u/s. 143(3) r.w.s. 153A is void if Assessing Officer erred in assuming jurisdiction u/s 153A...

Read More

Understanding Section 143 of Income Tax Act, 1961

An assessee is required to file an income tax return under Section 139 or in response to notice under section 142, consisting all the details of income earned during the previous year. Once the return is filed the next step of Income tax department is to examine the return for its correctness. This examination is known as Assessment....

Read More
Posted Under: Income Tax |

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. Vs 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

Subhash Chander Vs CIT (Punjab & Haryana High Court)

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

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

CIT Vs Balampur Chini Mills Pvt Ltd. (Calcutta High Court)

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. ...

Read More
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