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REGULAR/SCRUTINY ASSESSMENT UNDER SECTION 143(2)/143(3)

Income Tax - Return of Income and Assessment Procedure - 18 - Compulsory Service of Notice [Section 143(2)]:- Where the return has been made u/s 139 or in response to notice u/s 142(1), the Assessing Officer shall if he considers it necessary or expedient to ensure that- The assessee has not understand the income; or Has not computed excessive loss; or Has not underpaid the tax in any manner. Serve a notice on the assessee u/s 143(2) requiring him to attend his office or produce or cause to be p .....

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re as may be prescribed. Where the notice u/s 13(2) is issued by registered post on the last day of the period of limitation, it could not be said to have been served in time. [CIT v Inderpal Malhotra (2008) 171 Taxman 359 (Del)] Where service of notice u/s 143(2) was done by affixture on last day after office hours, it was held that it was not a valid service and hence the assessment done the basis of such notice is not valid. [CIT v Vishnu & Co. Pvt. Ltd. (2009) 319 ITR 151 (Del)] Notice d .....

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s- Not served upon him; or Not served upon him in time; or Served upon him in an improper manner. However, nothing contained in this section shall apply where the assessee has raised such objection before the completion of such assessment or reassessment. Consequences of failure to comply with notice u/s 143(2):- The consequence of a default in complying with the notice u/s 143(2), may entail an ex parte, best judgment assessment u/s 144. Such a default may also attract penalty u/s 271(1)(b) whi .....

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produce on the dates specified, from time to time and such other evidence as the Assessing Officer may require on specified points: All relevant material gathered by him. FIRST PROVISO TO SECTION 143(3) First proviso to section 143(3) provides that Assessing Officer cannot himself disallow the exemption under section 10(21)/ 10(22B)/ 10(23A)/ 10(23B)/ 10(23C) while making an assessment under section 143(3). He can under section 143(3) disallow the rescinded the notification withdrawing the exem .....

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