Tag Archives: Assessment

How to use Video Conferencing facility in Income Tax Faceless Assessment proceeding Notice I

By | April 6, 2023
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Faceless Assessment Ready Reckoner with Real Time Case Studies ( Taxmann’s Sep 2020)

By | September 7, 2020
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Taxmann’s Faceless Assessment Ready Reckoner with Real Time Case Studies – Updated till 1st September 2020 (September 2020 Edition)  Price Rs 885 Click here to Buy online Description This book is a ready-reckoner for the assessees and tax practitioners, to understand the ‘Faceless Assessment Scheme 2019’, in an effective, qualitative and timely manner. This book aims to fully familiarise the reader,… Read More »

No reassessment after 4 years if Assessee disclosed material facts at the time of original assessment: HC

By | May 17, 2019
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HIGH COURT OF MADRAS Deputy Commissioner of Income Tax v. Visvas Promoters (P.) Ltd. DR. VINEET KOTHARI AND MRS. T. KRISHNAVALLI, JJ. W.A. (MD) NO. 1051 OF 2011 MARCH  27, 2019 Mrs. S. Srimathy, Ld. Standing Counsel for the Appellant. Venkatesh and A. Shivaji for the Respondent. JUDGMENT Dr. Vineet Kothari, J. – The Revenue Department has filed this Intra Court Appeal against… Read More »

Assessment and Audit under GST

By | September 5, 2016
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ASSESSMENT AND AUDIT UNDER GST BUY Meaning of assessment “Assessment” means determination of tax liability under this Act and includes self-assessment, re-assessment, provisional assessment, summary assessment and best judgment assessment – clause 2(12) of GST Model Law, 2016. Assessment means determining the tax liability. ‘Assess’ in a taxing statute means the computation of the income… Read More »

Optimum Use of Technology for Expeditious Disposal of Assessment and Refunds

By | May 6, 2016
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Optimum Use of Technology for Expeditious Disposal of Assessment and Refunds; In FY 2015-16, 94% of income tax returns were filed online and 4.14 crore returns processed without any human intervention; More than 2.10 crore refunds amounting to Rs.1,22,425 crore were paid in FY 2015-16 as compared to Rs. 1,12,188 crore in the FY 2014-15… Read More »