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Supreme Court Ruling: Officers Duty in Defective Tax Returns and Legal Validity of Reassessment The Supreme Court on Tuesday clarified that if a tax return is deemed defective, it is the responsibility of the assessing officer to inform the assessee and provide an opportunity for rectification. T
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FAQ :
The assessing officer bears the responsibility to ascertain defects in tax returns and inform the assessee for rectification.
If the assessing officer fails to exercise their discretion to identify and communicate defects, the return cannot be considered defective.
The court addressed the legal sustainability of reopening a concluded assessment (reassessment) under Section 147 of the Income Tax Act, 1961, after issuing a notice under Section 148.
A return filed without a regular balance sheet and profit and loss account may be deemed defective, but it is not considered invalid.
No, the production of books of accounts or other material evidence that could ordinarily be discovered by the assessing officer does not amount to a true and full disclosure.
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