https://www.taxtmi.com/acts?id=53482 Failure to comply with an information notice or initial statutory notice is intimated to the assessment unit, which issues a show-cause notice before completing the assessment to the best of its judgment. After considering record material, the unit prepares an income or loss determination proposal where no prejudicial variation is contemplated; otherwise it serves a show-cause notice identifying proposed prejudicial variations and receives reply through the NFAC. It then prepares the determination proposal after considering the response or recorded non-response. en-us Fri, 20 Mar 2026 18:21:43 +0530 Fri, 18 Sep 2026 11:49:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=53482 Failure to comply with an information notice or initial statutory notice is intimated to the assessment unit, which issues a show-cause notice before completing the assessment to the best of its judgment. After considering record material, the unit prepares an income or loss determination proposal where no prejudicial variation is contemplated; otherwise it serves a show-cause notice identifying proposed prejudicial variations and receives reply through the NFAC. It then prepares the determination proposal after considering the response or recorded non-response. Act-Rules Income Tax Fri, 20 Mar 2026 18:21:43 +0530 https://www.taxtmi.com/acts?id=53482