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TMI BlogProcedure for selection of corporate cases for scrutiy.X X X X Extracts X X X X X X X X Extracts X X X X ..... ioner of Income Tax Subject : Procedure for Selection of cases for "Scrutiny" for Corporate and Non-Corporate Assessees. Sir/Madam, The Guidelines for selection of cases for scrutiny in respect of Corporate and Non-Corporate assessee are enclosed herewith. The Guidelines will be applicable for all the returns filed during the period 1.10.2003 to 31.3.2005. 2. The process of selection of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the above subject, the Board hereby lays down the following procedure for selection of returns/cases of Corporate Assessees for Scrutiny during the current financial year i.e., 2004-05. 2. The following categories of cases shall be compulsorily scrutinized : (a) All assessments pertaining to Search Seizure. (b) All assessments pertaining to survey conducted u/s. 133A. (c) All returns ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ck Exchange. (h) All cases of companies liable to pay tax under Section 115 B with book profit exceeding Rs. 50 lakh. (i) All cases where income exceeding Rs. 10 lakhs has been claimed as exempt. (j) Cases where value of International Transaction (as defined u/s. 92B of the I.T. Act) exceeds Rs. 5 crores. (k) All cases of non-residents where returns have been filed disclosing income less t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntract receipts. 3. Cases not falling in the above categories and where the Assessing Officer is of the opinion that scrutiny is required for specific reasons, viz. cases of builders/contractors following project completion method to declare their income cases where there is prima facie evidence of dividend/bonus stripping etc. may be selected for scrutiny after recording the reasons in writing ..... X X X X Extracts X X X X X X X X Extracts X X X X
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