Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing...
Dispute Resolution Panel objections must reach both prescribed forums; otherwise assessment may proceed and statutory appeal remains the proper remedy...
A scrutiny notice under section 143(2) merely informs the assessee that the case has been selected for scrutiny and need not disclose the selection reasons or scope of scrutiny. CBDT and departmental selection guidelines are described as inter-departmental instructions that do not create an assessee right to demand those reasons. Selection may be challenged only on proof of arbitrariness or vendetta. During assessment, the Assessing Officer must issue a specific notice seeking relevant information and documents; the notes state that such a subsequent notice satisfies the assessment-process requirement.
A scrutiny notice under section 143(2) merely informs the assessee that the case has been selected for scrutiny and need not disclose the selection reasons or scope of scrutiny. CBDT and departmental selection guidelines are described as inter-departmental instructions that do not create an assessee right to demand those reasons. Selection may be challenged only on proof of arbitrariness or vendetta. During assessment, the Assessing Officer must issue a specific notice seeking relevant information and documents; the notes state that such a subsequent notice satisfies the assessment-process requirement.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4780
Join Channel
TaxTMI 
