Correctness and validity of assessment

[Anuj Bansal]

wether assessment made by A.O , u/s 143(3) said to be correct & valid if befor assessement made by him under 143(3) A search u/s 132 has been already conducted,

[Rama Krishana]

The provisions of section 158BA are overriding provisions. But explanation to section 158BA permits regular assessment in addition to block assessment. Therefore the order of AO can not be held as wrong.

AI Summary

Assessment Validity Confirmed: AO's Order Under Section 143(3) Stands; Section 158BA Allows Regular and Block Assessments. A query was raised about the correctness and validity of an assessment made by an Assessing Officer (AO) under section 143(3) of the Income Tax Act, following a search conducted under section 132. The response clarified that section 158BA, which includes overriding provisions, allows for regular assessment in addition to block assessment. Therefore, the AO's order is not considered incorrect or invalid.