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Assessment procedure introduced by section 144A and 144B of the Income tax Act 1961.
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....e as introduced by section 144A and 144B of the Income tax Act 1961. A copy of Board's order of even number dated the 23rd December 1975 fixing the variation limit at Rs. 1 lakh for purposes of section 144B was also forwarded alongwith this Instruction. 2. A question has been raised where in completing the assessment of a firm under section 143(3), the Income-tax Officer proposes to make an addit....
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....ng assessments of the partners after complying with the provisions of section 144B of the Act. You may kindly issue necessary instructions to the Income-tax Officers to adhere to this time limit scrupulously. The Inspecting Assistant Commissioners may take steps for completing the assessments of the firms for the assessment year 1974-75 by 30th September 1976 and to keep a constant watch over the ....