Monetary limit for assessment increased, expanding small income coverage while retaining sample scrutiny and audit test checks. Monetary limit for assessments under section 143(3) is raised for the small income scheme, applying also to partner cases, and remaining subject to existing conditions. Selection rules require commissioner-determined scrutiny of 10% of intermediate business-income cases with an element of surprise; a 2% sample check for other scheme cases (increaseable by the commissioner); and a 20% test check by the Internal Audit wing for assessments within the enhanced limits.
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Provisions expressly mentioned in the judgment/order text.
Monetary limit for assessment increased, expanding small income coverage while retaining sample scrutiny and audit test checks.
Monetary limit for assessments under section 143(3) is raised for the small income scheme, applying also to partner cases, and remaining subject to existing conditions. Selection rules require commissioner-determined scrutiny of 10% of intermediate business-income cases with an element of surprise; a 2% sample check for other scheme cases (increaseable by the commissioner); and a 20% test check by the Internal Audit wing for assessments within the enhanced limits.
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