Furnishing of statement requirement under equalisation levy mandates prescribed reporting of specified services and revision rights. The provision requires assessees liable for equalisation levy to prepare and deliver a furnishing of statement for all specified services during each financial year, in the prescribed form and manner, to the Assessing Officer or any authority authorised by the Board; a right to furnish or revise the statement exists within two years from the end of the financial year in which the service was provided, and the Assessing Officer may issue a notice requiring submission where the statement is not furnished on time.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Furnishing of statement requirement under equalisation levy mandates prescribed reporting of specified services and revision rights.
The provision requires assessees liable for equalisation levy to prepare and deliver a furnishing of statement for all specified services during each financial year, in the prescribed form and manner, to the Assessing Officer or any authority authorised by the Board; a right to furnish or revise the statement exists within two years from the end of the financial year in which the service was provided, and the Assessing Officer may issue a notice requiring submission where the statement is not furnished on time.
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