Comments on: Assessment Procedures of Income Tax in India

By: NEELESH MANGTANI

NEELESH MANGTANI — Wed, 02 May 2012 18:47:47 +0000

Assessee filed Return of Block in response to Notice u/s. 158BD declaring undisclosed income of Rs.20 lakh. Suo moto, the assessee also paid taxes on the undisclosed income and attached challan with the Block Return. AO assessed undisclosed income at Rs.20 lakh, as declared by the assessee in the Block Return. Assessee went in appeal before CIT(A) on the ground that the Notice u/s. 158BD was illegal and unlawful, as the same was issued after the time limit as prescribed for assessment u/s. 158BD. CIT(A) rejected the appeal of the assessee. Assessee filed an appeal before the ITAT. The Hon’ble ITAT allowed the appeal of the assessee by holding that the Notice u/s. 158BD was time barred and hence assessment framed by the AO was illegal and unlawful and annulled the same. Now, the assessee wants his taxes paid as Refund. Whether, the assessee can get refund of taxes paid on undisclosed income, which he suo moto declared.

By: BLGupta-Advocate

BLGupta-Advocate — Thu, 26 Apr 2012 07:10:39 +0000

A very good approach to narrate the assessment procedure. A layman can understand. Still needs improvement.Cite some legal issues like submission of Revised Return which substitutes the original Return.If A O does omit the consideration of Revised return and makes scrutiny assessment on best judgment on admission made in Survey- which was immediately retracted then whether the order sustains legally.

By: Anup Mukherjee

Anup Mukherjee — Mon, 02 Apr 2012 13:43:15 +0000

As an employer, you are not concerned for deducting tax on income from previous employer. You only deduct tax from what you pay. If your payment does not attract TDS, then you dont deduct anything. If, the person’s total income (ie. salary from previous employer+ salary from current employment+ other income like interest etc) attracts tax, then he would be liable to pay tax as Self Assessment Tax.

By: KAILASH

KAILASH — Mon, 02 Apr 2012 13:22:30 +0000

Can i beleive on self declaration which has given by employee regarding previous empolyer income for income tax calculation

By: Vishwajit Karmakar

Vishwajit Karmakar — Mon, 27 Feb 2012 11:16:53 +0000

this article is very useful as it has cited various case.

By: bob

bob — Mon, 20 Feb 2012 15:20:08 +0000

EXCELLENT ARTICLE !!!!
EXPLAINS IN SIMPLE WORDS THE INFORMATION WHICH EVERY
tax payer ought to know !
Your article made my day.
CONGRATULATIONS !!!
KEEP this article ever-alive on the net
Thanks

By: onkat

onkat — Wed, 11 Jan 2012 03:07:47 +0000

extremely easy language and clear illustration…….

By: Dinesh Agarwal

Dinesh Agarwal — Fri, 23 Dec 2011 05:00:24 +0000

Sir,
Can you please provide some opinion with regards to following querries.
1. Can the assessee vide an application voluntarily seek re-assessment u/s 147 from the AO in light of new Instructions issue by CBDT which may reduce his tax liability from already completed assessment u/s 144?
2. Can the Assessing Officer reduce or nullify the taxable income while undertaking re-assessment proceedings u/s 147?
3. Can the AO review and reduce his own assessment order passed u/s 144? Under what section can this review and reduction done?
4. Is appeal a continuation of proceedings under Income tax act of 1961

By: Anup Mukherjee

Anup Mukherjee — Tue, 18 Oct 2011 14:54:56 +0000

You may read: http://www.itatonline.org/articles_new/index.php/analysis-of-recent-supreme-court-judgements/2/

By: ashok dalmia

ashok dalmia — Tue, 18 Oct 2011 14:40:29 +0000

Sir,
you have written that additional claims can be entertained during scrutiny assessment in your article. Can you elaborate on it. Suppose a person has filed belated return and scrutiny notice comes and he finds that he has missed to claim some deductions say under CHAPTER VIA… How can he make claim of the same in scruitiny asssessment in the light of SUPREME court Judgement in GOETZE INDIA CASE (2006), wherein revised return is not permitted for BELATED RETURN and request letters submitted for ADDITIONAL FORGOTTEN CLAIMS in a belated return during scrutiny in are
not be entertained. You may kindly reply on my email address in support of passing of my additional claims in SCRUTINY in BELATED RETURNS return filing cases,.
thanks.

By: AJAY JINWAL

AJAY JINWAL — Sat, 01 Oct 2011 07:54:12 +0000

If assesse die before issue notice u/s 148 what happen?

By: N N GUPTA

N N GUPTA — Tue, 27 Sep 2011 12:15:15 +0000

Very nicely explained.

By: manish

manish — Tue, 27 Sep 2011 06:42:06 +0000

thanks sir,
good and lucid explanation of assessment procedure presented.
Sir please give light on how the process of assessment go. Means ao to cit(a) and Hc and sc. With form and other documents and with real example.

By: Sagar Nagpal

Sagar Nagpal — Thu, 15 Sep 2011 16:15:10 +0000

Very well explained Sir.

By: S.P. Manchanda

S.P. Manchanda — Sun, 28 Aug 2011 15:44:54 +0000

Best explained.

By: Anup Mukherjee

Anup Mukherjee — Thu, 18 Aug 2011 13:02:05 +0000

Go ahead. Good Luck

By: Shalini

Shalini — Thu, 18 Aug 2011 10:59:34 +0000

Excellent

By: Shalini

Shalini — Thu, 18 Aug 2011 10:58:23 +0000

I need it for Group Discussion

By: Anup Mukherjee

Anup Mukherjee — Mon, 04 Jul 2011 03:03:53 +0000

Corruption is the sad part of our great country. Check this out to see the ‘market price’ of corruption:

http://www.ipaidabribe.com/

By: ROHANRAJ K

ROHANRAJ K — Sun, 03 Jul 2011 08:12:28 +0000

good article sir. but i dont understand why people are not questioning the corrupt officers? there are sincere officers in the department one should raise the voice against such corrupt AOs.

By: mehul joshi

mehul joshi — Sat, 30 Apr 2011 11:58:12 +0000

very simple & sober language

By: Anand

Anand — Sun, 13 Mar 2011 09:29:12 +0000

Informative!

By: Prof. Anand D. Mule

Prof. Anand D. Mule — Wed, 09 Mar 2011 12:04:48 +0000

Thanks for your information about income tax. Thank You again.

By: manav

manav — Sat, 29 Jan 2011 16:03:07 +0000

good information regarding income tax

By: CA RUPESH NAGPAL

CA RUPESH NAGPAL — Mon, 20 Dec 2010 03:24:29 +0000

GOOD INFORMATION (COLLECTIVELY)

By: V P Raguram

V P Raguram — Wed, 22 Sep 2010 15:16:56 +0000

Excellent Article

By: VILPESH

VILPESH — Mon, 23 Aug 2010 15:32:46 +0000

Yes, its good information regarding Assessment procedure

By: Anup Mukherjee

Anup Mukherjee — Sat, 09 Jan 2010 13:04:41 +0000

This article is not really about filing IT Returns! Assessment procedure happens after one files the IT Return!

By: subhrajit bastia

subhrajit bastia — Sat, 09 Jan 2010 11:51:36 +0000

information regarding IT return satisfactory. thank you.