9911796707
TMI BlogFaceless assessment (Assessment procedure) – Section 144B(2)X X X X Extracts X X X X X X X X Extracts X X X X ..... on system; * Intimate to the assessee - the NFAC shall intimate the assessee that assessment in his case shall be completed in accordance with the procedure laid down under this section; * Serve the notice - a notice shall be served on the assessee, through the NFAC, u/s 143(2) or u/s 142(1) and Submit the response - the assessee may file his response to such notice within the date specified therein, to the NFAC which shall forward the same to the assessment unit; * Cases assigned to the assessment unit - where a case is assigned to the assessment unit (AU), under clause (i), it may make a request through the NFAC for- (a) obtaining such further information, documents or evidence from the assessee or any other person, as it m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... U; * Fails to comply notice served intimate to the Assessment unit where the assessee fails to comply with the notice served u/s 144B(1)(v) or notice issued u/s 142(1) or the terms of notice issued u/s 143(2), the NFAC shall intimate such failure to the AU; * the assessment unit shall serve upon such assessee, as referred to u/s 144B(1)(viii), a notice, through the National Faceless Assessment Centre, u/s 144, giving him an opportunity to show-cause on a date and time as specified in such notice as to why the assessment in his case should not be completed to the best of its judgment; * the assessee shall, within the time specified in the notice referred to u/s 144B(1)(ix) or such time as may be extended on the basis of an appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 44B(1)(xiv), as the case may be, and taking into account all relevant material available on record, prepare an income or loss determination proposal and send the same to the NFAC; * upon receipt of the income or loss determination proposal, as referred to u/s 144B(1)(xii)(a) or u/s 144B(1)(xv), as the case may be, the NFAC may, on the basis of guidelines issued by the Board, - (a) convey to the AU to prepare draft order in accordance with the income or loss determination proposal, which shall thereafter prepare a draft order; or (b) assign the income or loss determination proposal to a RU through an automated allocation system, for conducting review of such proposal; * the RU shall conduct review of the income or loss determinat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opy of such order and notice for initiating penalty proceedings, if any, on the assessee, along with the demand notice, specifying the sum payable by, or refund of any amount due to, the assessee on the basis of such assessment; * where a draft order is served on the assessee as referred to in u/s 144B(1)(xxi), such assessee shall,- (a) file his acceptance of the variations proposed in such draft order to the NFAC; or (b) file his objections, if any, to such variations, with- * the DRP, and * the NFAC. within the period specified in the section 144C(2); * the National Faceless Assessment Centre shall,- (a) upon receipt of acceptance from the eligible assessee; or (b) if no objections are received from the eligible asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion as may be required under the provisions of this Act;
xxxii.
if at any stage of the proceedings before it,
* the AU having regard to the nature and complexity of the accounts,
* volume of the accounts,
* doubts about the correctness of accounts,
* multiplicity of transactions in the accounts or
* specialised nature of business activity of the assessee, and
* the interests of the revenue,
is of the opinion that it is necessary to do so, it may, upon recording its reasons in writing, refer the case to the NFAC stating that the provisions of section 142(2A) may be invoked and such case shall be dealt with in accordance with the provisions of section 144B(7). X X X X Extracts X X X X X X X X Extracts X X X X
|
