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Section 1433

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(Querist)
07 February 2013 I JUST WANTED TO KNW THIS SECTION N THE DEMAND RAISED AS PER THIS SECTION BY DEPARTMENT (OUTSTANDING DEMAND)?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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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