Assessment of non-filers permits best-judgment assessment, withdrawable on timely return but interest and late fees remain. If a registered person fails to furnish the return under sections 39 or 45 after a notice under section 46, the proper officer may assess tax liability to the best of his judgement using available material and issue an assessment order within five years from the date specified under section 44 for the relevant annual return. If a valid return is furnished within thirty days of service of that assessment order, the order is deemed withdrawn but interest under section 50(1) and late fee under section 47 remain payable.
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.
Assessment of non-filers permits best-judgment assessment, withdrawable on timely return but interest and late fees remain.
If a registered person fails to furnish the return under sections 39 or 45 after a notice under section 46, the proper officer may assess tax liability to the best of his judgement using available material and issue an assessment order within five years from the date specified under section 44 for the relevant annual return. If a valid return is furnished within thirty days of service of that assessment order, the order is deemed withdrawn but interest under section 50(1) and late fee under section 47 remain payable.
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