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assessment u/s 147

Others 168 views 3 replies

Binay Sahoo

18 Points Posted on 20 February 2019

1.Remedy available to the AO, if assessee doesn't comply with the terms of the notice issued u/s 148.

2. If reason to believe was of Rs.110000 but the results of the assessment u/s 147 is of Rs.60000 and period of limitation of 4 year has been expired, then is it possible to complete the assessment.

3. If assessee doesn't comply with the notice issued u/s 148, is it possible for the AO to issue notice u/s 143(2).

Replies (3)

SHIVANI KUDTARKAR

512 Points Posted on 21 February 2019

1.order u/s 144 i.e. best judgment asst if assessee not at all comply with notices u/s 148, 142(1)
2. if the addition is below 1 lakh, then assessee may file appeal before CIT(A) and in almost all the cases, assessee wins
3.AO cant issue 143(2) before assessee files the ROI in response to 148...in this case he can issue 142(1),show cause, summon

subhagan sreerangam

7059 Points Posted on 01 March 2019

thank you and congratulations

Gaurav

SELF EMPLOYED

100 Points Posted on 01 March 2019

1. He can pass an ex parte order u/s 144 from the information available to him 2. If the income is less than 1 Lakh and notice is issued after 4 years from the end of the relevant assessment year in which the return was filed then no assessment order can be passed. 3. The AO can issue only 142(1) notice and not 143(2).