AI Drafter 
TaxTMI 
TaxTMI 
Assessment
X X X X Extracts X X X X
X X X X Extracts X X X X
....any of the provisions of Chapter VI-A under the heading "C.-Deductions in respect of certain incomes", if] the return is furnished beyond the due date specified under sub-section (1) of section 139; or (vi) addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total income in the return: Provided that no such adjustments shall be made unless an intimation is given to the assessee of such adjustments either in writing or in electronic mode: Provided further that the response received from the assessee, if any, shall be considered before making any adjustment, and in a case where no response is received within thirty days of the issue of such intimation, such adjustments shall be made;] ^33[Provided also that no adjustment shall be made under sub-clause (vi) in relation to a return furnished for the assessment year commencing on or after the 1st day of April, 2018;] (b) the tax ^27[, interest and fee], if any, shall be computed on the basis of the total income computed under clause (a); (c) the sum payable by, or the amount of refund due to, the assessee shall be determined a....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... for the purpose of giving effect to the scheme made under sub-section (1A), the Central Government may, by notification in the Official Gazette, direct that any of the provisions of this Act relating to processing of returns shall not apply or shall apply with such exceptions, modifications and adaptations as may be specified in that notification; so, however, that no direction shall be issued after the 31st day of March, ^20[2012]. (1C) Every notification issued under sub-section (1B), along with the scheme made under sub-section (1A), shall, as soon as may be after the notification is issued, be laid before each House of Parliament.] ^31[(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2): Provided that the provisions of this sub-section shall not apply to any return furnished for the assessment year commencing on or after the 1st day of April, 2017.] ^26[(2) Where a return has been furnished under section 139, or in response to a notice under sub-section (1) of section 142, the Assessing Officer or the prescribed income-tax authority, as th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....iation or institution has been rescinded:] ^14[^45[Provided further that where the Assessing Officer is satisfied that any fund or institution referred to in sub-clause (iv) or trust or institution referred to in sub-clause (v) or any university or other educational institution referred to in sub-clause (vi) or any hospital or other medical institution referred to in sub-clause (via), of clause (23C) of section 10, or any trust or institution referred to in section 11, has committed any specified violation as defined in Explanation 2 to the fifteenth proviso to clause (23C) of section 10 or the Explanation to sub-section (4) of section 12AB, as the case may be, he shall- (a) send a reference to the Principal Commissioner or Commissioner to withdraw the approval or registration, as the case may be; and (b) no order making an assessment of the total income or loss of such fund or institution or trust or any university or other educational institution or any hospital or other medical institution shall be made by him without giving effect to the order passed by the Principal Commissioner or Commissioner under clause (ii) or clause (iii) of the fifteenth proviso to ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....) of this section or section 144 is made,- (a) any tax or interest paid by the assessee under sub-section (1) shall be deemed to have been paid towards such regular assessment ; (b) if no refund is due on regular assessment or the amount refunded under sub-section (1) exceeds the amount refundable on regular assessment, the whole or the excess amount so refunded shall be deemed to be tax payable by the assessee and the provisions of this Act shall apply accordingly. (5) ^16[****]] ^17[****] **************** NOTES:- 1. Substituted vide Section 48 of the Direct Tax Laws (Amendment) Act, 1987 w.e.f. 01-04-1989 before it was read as, "143. Assessment-(1)(a) Where a return has been made under section 139, the Assessing Officer may, without requiring the presence of the assessee or the production by him of any evidence in support of the return, make an assessment of the total income or loss of the assessee after making such adjustments to the income or loss declared in the return as are required to be made under clause (b), with reference to the return and the accounts and documents, if any, accompanying it, and for th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....t, in a case, where an assessment has been made under sub-section (1), the notice under this sub-section except where such notice is in pursuance of an application by the assessee under clause (a) shall not be issued by the Assessing Officer unless the previous approval of the Deputy Commissioner has been obtained to the issue of such notice: Provided further that in a case where the assessment made under sub-section (1) is objected to by the assessee by an application under clause (a), the assessee shall not be deemed to be in default in respect of the whole or any part of the amount of the tax demanded in pursuance of the assessment under that sub-section, which is disputed by the assessee, in so far as such amount does not relate to any adjustment referred to in sub-clause (i) of clause (b) of sub-section (1), and further no interest shall be chargeable under sub-section (2) of section 220 in respect of such disputed amount. (3) On the day specified in the notice issued under sub-section (2), or as soon afterwards as may be, after hearing such evidence as the assessee may produce and such other evidence as the Assessing Officer may require on specified points, ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....eans the classification of the assessee as an individual, a Hindu undivided family, or any other category of persons referred to in clause (31) of section 2, and where the assessee is a firm, its classification as a registered firm or an unregistered firm." Earlier, Amended vide Section 30 of the Taxation Laws (Amendment) Act, 1970 w.e.f. 01-04-1971 And was Amended vide Section 13 of the Finance Act, 1974 w.e.f. 01-04-1975 And was Amended vide Section 26 of the Finance Act, 1976 w.e.f. 01-04-1976 And was Amended vide Section 25 of the Finance (No. 2) Act, 1980 w.e.f. 01-04-1980 And was Amended vide Section 74 of the Finance Act, 1987 w.e.f. 01-04-1988 2. The provisions of section 143 as they stood before the commencement of the Direct Tax Laws (Amendment) Act, 1987, shall apply in respect of assessments for the assessment year commencing on the 1st day of April, 1988 and any earlier assessment year-vide Income-tax (Removal of Difficulties) Order, 1989. 3. Substituted vide Section 64 of the Finance Act, 1999 w.e.f. 01-06-1999 before it was read as, "(1)(a) Where a return has been made under section 13....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... (i) if any tax or interest is found due, an intimation shall be sent to the assessee specifying the sum so payable, and such intimation shall be deemed to be a notice of demand issued under section 156 and all the provisions of this Act shall apply accordingly, and (ii) if any refund is due, it shall be granted to the assessee : Provided that an intimation for any tax or interest due under this clause shall not be sent after the expiry of four years from the end of the financial year in which any such order was passed. (c) Where the assessee is a member of an association of persons or body of individuals and as a result of the adjustments made under the first proviso to clause (a) of sub-section (1) in the income or loss declared in the return made by the association or body, as the case may be, or as a result of an order made under sub-section (3) of this section or section 144 or section 147 or section 154 or section 155 or sub-section (1) or sub-section (2) or sub-section (3) or sub-section (5) of section 185 or sub-section (1) or sub-section (2) of section 186 or section 250 or section 254 or section 260 or section 262 or section 263 or section 26....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... that would have been chargeable had such total income been reduced by the amount of adjustments and specify the additional income-tax in the intimation to be sent under sub-clause (i) of clause (a) of sub-section (1) ; (B) in a case where the loss so declared is reduced under sub-clause (ii) of this clause or the aforesaid adjustments have the effect of converting that loss into income, calculate a sum (hereinafter referred to as additional income-tax) equal to twenty per cent of the tax that would have been chargeable on the amount of the adjustments as if it had been the total income of such person and specify the additional income-tax so calculated in the intimation to be sent under sub-clause (i) of clause (a) of sub-section (1) ; (C) where any refund is due under sub-section (1), reduce the amount of such refund by an amount equivalent to the additional income-tax calculated under sub-clause (A) or sub-clause (B), as the case may be. (b) Where as a result of an order under sub-section (3) of this section or section 154 or section 250 or section 254 or section 260 or section 262 or section 263 or section 264, the amount on which additional incom....
X X X X Extracts X X X X
X X X X Extracts X X X X
....d an intimation shall be sent to the assessee specifying the amount so payable, and such intimation shall be deemed to be a notice of demand issued under section 156 and all the provisions of this Act shall apply accordingly : Provided that an assessee, who has furnished a revised return under sub-section (5) of section 139 after the service upon him of the intimation under sub-section (1) of this section, shall be liable to pay additional income-tax in relation to the adjustments made under the first proviso to clause (a) of sub-section (1) and specified in the said intimation, whether or not he has made the said adjustments in the revised return." Earlier, Inserted vide Section 37 of the Finance Act, 1990 w.e.f. 01-04-1989 8. Substituted vide Section 60 of the Finance Act, 2002 w.e.f. 01-06-2002 before it was read as, "(2) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142, the Assessing Officer shall, if he considers it necessary or expedient to ensure that the assessee has not understated the income or has not computed excessive loss or has not under-paid the tax in any manner, ser....
X X X X Extracts X X X X
X X X X Extracts X X X X
....is section to the other provisions of this Act shall be construed as references to those provisions as for the time being in force and applicable to the relevant assessment year." Earlier, Inserted vide Section 16 of the Direct Tax Laws (Second Amendment) Act, 1989 w.e.f. 01-04-1989 17. Omitted vide Section 64 of the Finance Act, 1999 w.e.f. 01-06-1999 before it was read as, "Explanation.-An intimation sent to the assessee under sub-section (1) or sub-section (1B) shall be deemed to be an order for the purposes of sections 246 and 264." Earlier, Inserted vide Section 46 of the Finance (No. 2) Act, 1991 w.e.f. 01-10-1991 And was Amended vide Section 37 of the Finance Act, 1994 w.e.f. 01-06-1994 18. Substituted vide Section 32 of the Finance Act, 2008 w.e.f. 01-04-2008 before it was read as, ^"3[(1) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142,- (i) if any tax or interest is found due on the basis of such return, after adjustment of any tax deducted at source, any advance tax paid, any tax paid on self-assessment and any amount paid ot....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ientific research association" 22. Inserted vide Section 61 of the Finance Act, 2012 w.e.f. 01-07-2012 22A. Inserted vide Section 61 of the Finance Act, 2012 w.e.f. 01-07-2012 23. Omitted vide Section 68 of the Finance Act 2016 w.e.f. 01-04-2017 before it was read as, "or" 24. Inserted vide Section 68 of the Finance Act 2016 w.e.f. 01-04-2017 25. Substituted vide Section 68 of the Finance Act 2016 w.e.f. 01-04-2017 before it was read as, "^22[(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary, where a notice has been issued to the assessee under sub-section (2).]" 26. Substituted vide Section 68 of the Finance Act 2016 w.e.f. 01-06-2016 before it was read as, "^8[(2) Where a return has been furnished under section 139, or in response to a notice under sub-section (1) of section 142, the Assessing Officer shall,- (i) where he has reason to believe that any claim of loss, exemption, deduction, allowance or relief made in the return is inadmissible, serve on the assessee a notice specifying part....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... may produce, the Assessing Officer shall, by an order in writing, allow or reject the claim or claims specified in such notice and make an assessment determining the total income or loss accordingly, and determine the sum payable by the assessee on the basis of such assessment; (ii) issued under clause (ii) of" 33. Inserted vide Section 46 of the Finance Act 2018 w.e.f. 01-04-2018 34. Inserted vide Section 46 of the Finance Act 2018 w.e.f. 01-04-2018 35. Inserted vide Section 43 of the Finance (No. 2) Act 2019 w.e.f. 01-04-2007 36. Inserted vide Section 69 of the Finance Act, 2020 w.e.f. 01-04-2020 37. Substituted vide Section 69 of the Finance Act, 2020 w.e.f. 01-04-2020 before it was read as, "31st day of March, 2020" 38. Substituted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020 w.e.f. 01-04-2021 before it was read as, "2022" 39. Inserted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020 w.e.f. 01-04-2021 40. Substituted vide Sect....