Assessment of non-filers: authorities may assess to best judgment after notice; a later valid return withdraws assessment but interest persists. Where a registered person fails to furnish the return after service of a notice, the proper officer may assess tax liability to the best of his judgement using all relevant material and issue an assessment order within the statutory limitation period measured from the date specified for furnishing the annual return for the financial year concerned. If the registered person furnishes a valid return within thirty days of service of that assessment order, the assessment is deemed withdrawn, but liability for interest and late fee continues.
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: authorities may assess to best judgment after notice; a later valid return withdraws assessment but interest persists.
Where a registered person fails to furnish the return after service of a notice, the proper officer may assess tax liability to the best of his judgement using all relevant material and issue an assessment order within the statutory limitation period measured from the date specified for furnishing the annual return for the financial year concerned. If the registered person furnishes a valid return within thirty days of service of that assessment order, the assessment is deemed withdrawn, but liability for interest and late fee continues.
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