IT department issues order
covering various aspects of conducting scrutiny assessments electronically in
cases which are getting barred by limitation during the financial year
2017-2018; The e-assessments will be conducted using the Income-Tax Business
Application (ITBA) which is an integrated platform to conduct various tax-proceedings
electronically through the 'e-Proceeding' facility and is a part of Income-tax
Department’s digital transformation of its business processes; Assessment
proceedings in the two categories of time-barring scrutiny cases, pending as on
October 1, 2017, where hearings have not been completed, would be carried out
through the 'e-Proceeding' facility on the ITBA; The first category
covers time-barring scrutiny cases in seven metro cities namely
Ahmedabad, Bengaluru, Chennai, Kolkata, Hyderabad, Delhi and Mumbai where
assessment proceedings are already underway through the 'e-mail based
communication' and where assessee is having 'e-Filing' account; In time-barring
scrutiny assessments under 'e-Proceeding', the assessees can voluntarily opt
out from 'e-Proceeding' at a subsequent stage under intimation to the AO;
The CBDT order states that online submissions may be filed till the office
hours on the date stipulated for compliance; In e-assessment cases, manual
intervention is permissible in the specified situations viz., i) where manual
books of accounts or original documents have to be examined; ii) where AO
invokes provisions of Sec 131 of the Act or a notice is issued for carrying out
third party enquiries/investigations; iii) where examination of witness is
required to be made by the concerned assessee or the Department; iv) where a
show-cause notice contemplating any adverse view is issued by the Assessing
Officer and assessee requests for personal hearing to explain the matter
Subscribe to:
Post Comments (Atom)
Mere execution of JDA with developer does not trigger capital gains tax in real estate transactions
Recently Bangalore ITAT recently delivered an important ruling clarifying that merely executing a Joint Development Agreement (JDA) does n...
-
A new website launched for TDS related matters www.tdscpc.gov.in TRACES – T DS R econciliation A nalysis and C orrection E nabling S yste...
-
An eminent concern within the GST framework pertains to the entitlement of Input Tax Credit (ITC) concerning expenditures associated with In...
-
Recent judicial pronouncements across different forums have clarified several important aspects of Indian income tax law, particularly relat...
-
The transition to the Income-tax Act, 2025 (ITA 2025) and the accompanying Income-tax Rules, 2026 introduces a significantly overhauled co...
-
The newly enacted Income Tax Act, 2025, marks a significant step toward simplification by consolidating multiple presumptive taxation sche...
-
Introduction Employee welfare is a cornerstone of corporate responsibility, and gratuity forms a critical part of the social security benefi...
-
The overall effective tax rate of a U.S. multinational corporation may have significant impact on the value of its stock. Therefore, it ...
-
A significant change under Section 395(1) of the Income-tax Act, 2025 is reshaping how Lower Deduction Certificates (LDCs) operate via TRACE...
-
Introduction: India's Green Economy and the Tax Conundrum India stands as a global powerhouse in the fight against climate change, c...
-
In a landmark ruling, the ITAT, Hyderabad Bench, in the case of Amith Vishnaw Gudimela, held that a delay in filing Form-67 cannot be the so...
No comments:
Post a Comment