Provisional assessment: tax officer must make a summary refund assessment when claimed tax credit exceeds return, within six months. If a return claims that tax paid under specified tax-credit provisions exceeds tax payable, the income-tax officer, where a regular assessment is unlikely within six months of filing, shall make a summary provisional assessment within that six month period of the refundable sum, applying required adjustments to the return and, where relevant to those adjustments, considering records of prior years' assessments.
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.
Provisional assessment: tax officer must make a summary refund assessment when claimed tax credit exceeds return, within six months.
If a return claims that tax paid under specified tax-credit provisions exceeds tax payable, the income-tax officer, where a regular assessment is unlikely within six months of filing, shall make a summary provisional assessment within that six month period of the refundable sum, applying required adjustments to the return and, where relevant to those adjustments, considering records of prior years' assessments.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
