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of <h1>Understanding Sections 143(2) and 143(3): Timely Notices, Assessment Orders, and Compliance Penalties in Income Tax Procedures.</h1> The procedures for regular and scrutiny assessments under Sections 143(2) and 143(3) of the Income Tax Act. Section 143(2) mandates the issuance of a notice to the taxpayer within three months from the end of the financial year in which the return is filed, requiring attendance or evidence submission. Judicial decisions emphasize the importance of timely and valid notice service. Section 143(3) details the assessment order process, where the Assessing Officer evaluates the taxpayer's income or loss based on submitted or gathered evidence. It also covers the treatment of exemptions for certain institutions and the consequences of specified violations, including potential withdrawal of approvals or registrations. Failure to comply with notice requirements may result in penalties or ex parte assessments.
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