The Karnataka High Court has laid down certain important legal principles. These are as follows: Action based on the Material contained in material contained in Diaries and loose sheets is contrary to the decision of the Supreme Court and therefore the assessment orders are void and illegal. Recording of reasons is hallmark of a valid […]
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 […]