Meaning of Specified Orders - Income Tax - Ready Reckoner - Income Tax

Meaning of Specified Orders [ Explanation (b) to the Section 245MA read with Rule 44DAB(ii) and Rule 44DAD ] The specified order in relation to a dispute under section 245MA means: (a) a draft order as referred to in section 144C(1) ; (b) an intimation under section 143(1) or section 200A(1) or section 206CB(1) , where the assessee or the deductor or the collector objects to the adjustments made in the said order; (c) an order of assessment or reassessment, except an order passed in pursuance of directions of the Dispute Resolution Panel; (d) an order made under section 154 of the Act having the effect of enhancing the assessment or reducing the loss; or (e) an order made under section 201 or an order made under section 206C(6A) and in respect of which the following conditions are satisfied, namely: (A) the aggregate sum of variations proposed or made in such order does not exceed ten lakh rupees ; (B) the return has been furnished by the assessee for the assessment year relevant to such order and the total income as per such return does not exceed fifty lakh rupees ; and (C) the order in the case of the assessee is not based on, (I) search initiated under section 132 or requisition made under section 132A in the case of the assessee or any other person; or (II) survey carried out under section 133A ; or (III) information received under an agreement referred to in section 90 or 90A . Explanation: For the purposes of clause (e), the variation in the specified order relating to default in deduction or collection of tax at source, shall refer to the amount on which tax has not been deducted or collected in accordance with the Act. [ Rule 44DAD(ii) ]