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TMI BlogProcessing of assessment.X X X X Extracts X X X X X X X X Extracts X X X X ..... returns in form No.3 it should be possible to waive the absence of these enclosures. But summary assessments made without copies of final accounts, balance-sheet or tax deduction certificates and LIP receipts, may result in denying the assessee due credit for taxes paid. So, if an assessee does not file these papers along with a return, the person receiving the return should give him a printed/cyclostyled notice, pointing out that in the absence of the relevant papers, it would not be possible for the ITO to give him credit for the TDS and asking the assessee to re-submit the return within a week along with the respective documents. The CsIT may also take some steps like putting up advertisements or cinema slides, for enlightening the tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ast records. Where the difference is substantial, the case will have to be taken out of the summary assessment scheme. vi) Will para 2(vi) of the Board's Instruction No.289 cover the cases of cash credits, fresh deposits/loans in the name of the assessee's wife, or near relations or nominees? Yes. If there are specific allegations/information regarding cash credits or fresh deposits or loans in the name of the assessee's wife, his near relations and nominees, the case should be excluded from the category of cases to be done under the summary assessment procedure. vii) Whether IAC's prior approval will be needed for the issue of notice u/s.143(2) where a return was filed prior to 1-4-71 but the assessment is to be completed after this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue of notices u/s.139(2) should include not only the cases where voluntary returns have been filed by the assessee, but also those where such returns have not been filed. 3) For the purpose of statistical returns, the number of current assessments for disposal should be arrived at by adding the number of cases where returns have been received to the cases in which notices u/s.139(2) have been issued. 4) Summary assessment cases and scrutiny cases must be segregated. 5) A disposal of 500 summary assessments per month is expected from the ITOs solely engaged in such work. A revised target may be fixed after a study by the Director of Inspection(Income-tax Audit) which can be undertaken only after the scheme has run for some time. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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