Section 1433
This query is : Resolved
07 February 2013
I JUST WANTED TO KNW THIS SECTION N THE DEMAND RAISED AS PER THIS SECTION BY DEPARTMENT (OUTSTANDING DEMAND)?
07 February 2013
Section 143(3) is the section under which an assessing officer issues an Order after hearing the assessee. The assessee is asked to file a number of required details and on the basis of the material produced before him, an order is framed by him.
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He makes additions, if he is not satisfied with the details submitted before him or explanation given by the assessee.
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The additional tax liability arises if addition in the income is made. For collecting the tax, AO issues a Demand Notice also along with the order.
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If the demand remains unpaid it is called outstanding demand.
.
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He makes additions, if he is not satisfied with the details submitted before him or explanation given by the assessee.
.
The additional tax liability arises if addition in the income is made. For collecting the tax, AO issues a Demand Notice also along with the order.
.
If the demand remains unpaid it is called outstanding demand.
.
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