Risk-based postal import clearance standardises electronic assessment, document requests, duty realisation and delivery controls at Foreign Post Offic...
Customs Cargo Service Provider appointment extends custodianship to additional terminal land, subject to cargo-control, security and licence condition...
Post-search scrutiny assessment remains available where original assessment limitation is unexpired, permitting timely completion under regular assess...
Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
Reassessment proceedings initiated by a notice under section 148 treat the return filed in response as a return under section 139. A notice under section 143(2) is required only where the Assessing Officer considers verification necessary or expedient; its absence does not by itself invalidate reassessment, particularly where the taxpayer participated in the proceedings and section 292BB applies. Additions made during reassessment must retain a direct nexus with the recorded reasons for reopening. Where a claimed business loss is set off against unreported non-compete income forming the basis for reopening, examination of that loss is connected to the recorded reasons; the substantive justification remains examinable in statutory appeal.
Note: It is a system-generated summary and is for quick reference only.
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