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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Circular Clarifies Revenue Audit Authority Over Summary Assessments u/s 143(1), Income Tax Act 1961.</h1> The circular from December 4, 1972, addresses the procedure for handling objections raised by Revenue Audit concerning cases disposed of under the Summary Assessment Scheme, effective April 1, 1971, as per Section 143(1) of the Income Tax Act, 1961. It emphasizes that while summary assessments adhere to legal requirements and Board instructions, Revenue Audit retains the authority to audit these cases. The circular clarifies that the extent of such audits will be determined by the Comptroller and Auditor General (C & AG), and relevant records should be accessible to the auditors. The approach is consistent with practices for the Small Income Cases Scheme.
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