TMI BlogInstructions to the AO’s for initiating proceedings u/s 147 of I.T. Act, 1961 in e- Verification casesX X X X Extracts X X X X X X X X Extracts X X X X ..... w Delhi-110055 F. No.: CIT(e-Verification)/2023-24/FVR/Instr./ Date: 19.03.2024 To, All Pr. Chief Commissioner(s)/Pr. Director General(s) of Income Tax All Chief Commissioner(s)/Director General(s) of Income Tax All Commissioner(s)/Pr. Director(s) of Income Tax All Commissioner(s)/Director(s) of Income Tax Sir/ Madam, Sub: Instructions to the AO s for initiating proceedings u/s 147 of I.T. Act, 19 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... een conveyed that the AOs are facing problem in viewing the FVR relating to the cases to ascertain the quantum of Income Escapement amount/ Value at Risk. 4. View of all proceedings carried out by the Prescribed Authorities and documents submitted by the taxpayer during the e-Verification has been provided under e-Verification module in Insight portal. The user may navigate the path Insight Portal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Report (PVR). However, in Updated ITR cases, the Value at Risk in FVR is the amount of Income Escapement amount as determined by the Prescribed Authorities in the PVR as reduced by any additional income shown by the assessee in Updated ITR u/s 139(8A) of the Act i.e. {Value at Risk = (Income Escapement amount determined by the PA in the PVR - Additional income shown by the assessee in Updated ITR) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers. For any assistance, you may raise the issue to ito2.systems.ev@incometax.gov.in or call helpdesk at 1800 103 4216 (Monday to Friday 9.30 AM to 6.00 PM) This issues with the prior approval of the DGIT(Systems), New Delhi Yours faithfully (Sanjay Joseph) CIT(e-Verification) Directorate of Systems, New Delhi. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Managem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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