Faceless assessment procedure: automated allocation, electronic notices, review, draft-order objections, and video hearings structure tax assessments. Failure to comply with an information notice or initial statutory notice is intimated to the assessment unit, which issues a show-cause notice before ... Summary
Faceless assessment procedure: automated allocation, electronic notices, review, draft-order objections, and video hearings structure tax assessments.
Failure to comply with an information notice or initial statutory notice is intimated to the assessment unit, which issues a show-cause notice before completing the assessment to the best of its judgment. After considering record material, the unit prepares an income or loss determination proposal where no prejudicial variation is contemplated; otherwise it serves a show-cause notice identifying proposed prejudicial variations and receives reply through the NFAC. It then prepares the determination proposal after considering the response or recorded non-response.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.