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of <h1>CBDT Updates Income Tax Assessment: New Cases Up to Rs. 25,000 Qualify for Summary Process u/s 143(1.</h1> The circular issued by the Central Board of Direct Taxes (CBDT) on February 22, 1983, addresses the assessment process for new income tax cases under Section 143(1) of the Income Tax Act, 1961. It modifies previous instructions by allowing new cases with a returned income of up to Rs. 25,000 to be completed in a summary manner, provided they meet the conditions of the summary assessment scheme. Additionally, the percentage of random selection for scrutiny of such cases is increased from 2% to 5%. These changes are effective immediately and should be communicated to relevant officers.
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