The assessee received salary income and income from other sources. The case of the assessee was selected for limited scrutiny for examination of deduction claimed under the head capital gains. During the year assessee has claimed deduction under Section 54 of the Income Tax Act, 1961. The AO noted that the assessee had set off […]
FACELESS ASSESSMENT AND PRINCIPLES OF NATURAL JUSTICE
Section 144B(1) provides that the assessment under section 143(3) or under section 144, shall be made in a faceless manner as per the procedure prescribed in section 144B. Provisions of section 144B override other provisions of the Income Tax Act. Section 144B(1) lays down detailed procedure for making the assessment. Many issues relating to principles […]
VALIDITY OF TP PROCEEDINGS POST ASSESSMENT ORDER
Section 92CA provides that the AO may refer a case to the TPO if the taxpayer has entered into international transactions or SDT and the AO considers it necessary or expedient so to do. While making a reference, the AO has to take prior approval of the Commissioner. The reference to TPO shall be for […]