144b of income tax act

Case Details: Judiciary and Counsel Details • • Mrs Sunita Agarwal& Vipin Chandra Dixit, JJ. • Abhinav Mehrotra& Satya Vrata Mehrotra for the Petitioner. • A.S.G.I., Gaurav Mahajan& Naveen Chandra for the Respondent. Facts of the Case Assessee-company was engaged in the business of running a Flour mill, manufacturing Flour from Wheat. The assessee filed a writ petition before the Allahabad High Court on the grounds that the omission of sub-section (9) of Section 144B of the Income Tax Act was unconstitutional, being ultra-vires to the Constitution. Sub-section (9) of section 144B provided that the assessment proceedings would be invalid if the specified procedure of faceless assessment was not followed. The Finance Act, 2022 had omitted the provisions of sub-section (9) of Section 144B with retrospective effect, i.e. from 1.4.2021, i.e. from the date of its inception. It was argued that the omission of Section 144B(9) makes the entire Section 144B unconstitutional, since, the omission of the check/safeguard would result in an arbitrary, whimsical, capricious decision-making process. High Court Held The High Court held that sub-section (9) of Section 144B was omitted to streamline the faceless assessment process and address legal and procedural issues that arose during the implementation of this section, which was introduced in 2020. The amendments made by the Finance Act of 2022, which are the subject of this challenge, are procedural in nature and are intended to simplify...

Section 144B of the Income Tax Act: Faceless Assessment (1) Notwithstanding anything to the contrary contained in any other provisions of this Act, the assessment under sub-section (3) of (i ) the National Faceless Assessment Centre shall serve a notice on the assessee under sub-section (2) of (ii ) the assessee may, within fifteen days from the date of receipt of notice referred to in clause (i ), file his response to the National Faceless Assessment Centre; (iii ) where the assessee— (a ) has furnished his return of income under (b ) has not furnished his return of income in response to a notice issued under sub-section (1) of (c ) has not furnished his return of income under sub-section (1) of the National Faceless Assessment Centre shall intimate the assessee that assessment in his case shall be completed in accordance with the procedure laid down under this section; (iv ) the National Faceless Assessment Centre shall assign the case selected for the purposes of faceless assessment under this section to a specific assessment unit in any one Regional Faceless Assessment Centre through an automated allocation system; (v ) where a case is assigned to the assessment unit, it may make a request to the National Faceless Assessment Centre for— (a ) obtaining such further information, documents or evidence from the assessee or any other person, as it may specify; (b ) conducting of certain enquiry or verification by verification unit; and (c ) seeking technical assistance from...

The CBDT issued Order videF. No. 187/3/2020-ITA-1 dated March 17, 2022under section 144B(2) of Income Tax Act, 1961for specifying the scope/cases to be done under the As part of the tax policy, vide Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, section 144B was inserted in the Act toprovide the procedure for faceless assessmentwith effect from 01.04. 2021 and the Faceless Assessment Scheme, 2019 ceased to operate from that date. In partial modification of the Order under sub-section (2) of Section 144B of the Income tax Act, 1961, for specifying the scope / cases to be done under the Act, by F.No.187/3/2020-ITA-1 dated March 31, 2021, as amended by Orders of even number dated September 06, 2021, September 22, 2021 and December 16, 2021, the “Cases for which the time limit for completion expires on March 31, 2022 pending with the jurisdictional Assessing Officer as on March 15, 2022 or thereafter, which cannot be completed as per the procedure laid down under Section 144B of the Act due to technical procedural constraints in the given period of limitation,” the Order said. • • June 16, 2023 • The Delhi bench of Income Tax Appellate Tribunal (ITAT) has quashed a time barred reassessment notice issued under Section 148 of Income Tax Act 1961 based on information from investigation wing regarding bogus expenses. The assessee Humboldt Wedag India Pvt. Ltd. is company is mainly engaged in the business of designing, fabricating, manufacturing...

..... nit, under clause (i), it may make a request through the National Faceless Assessment Centre for- (a) obtaining such further information, documents or evidence from the assessee or any other person, as it may specify; (b) conducting of enquiry or verification by verification unit; (c) seeking technical assistance in respect of determination of arm s length price, valuation of property, withdrawal of registration, approval, exemption or any other technical matter by referring to the technical unit; (v) where a request under sub-clause (a) of clause (iv) has been initiated by the assessment unit, the National Faceless Assessment Centre shall serve appropriate notice or requisition on the assessee or any other person for obtaining the information, documents or evidence requisitioned by the assessment unit and the assessee or any other person, as the case may be, shall file his response to such notice within the time specified therein or such time as may be extended on the basis of an application in this regard, to the National Faceless Assessment Centre which shall forward the reply to the assessment unit; (vi) where a request,- (a) for conducting of enquiry or verification by the ver ..... x x x x x Extracts x x x x x Section 144B - Faceless assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x ..... submit as to why the proposed variation should not be made and serve such show cause notice, on the assessee, through the National Faceless Assessment Centre; (xi...

Amendment of section 144B. 42. In section 144B of the Income-tax Act,–– (a) for sub-sections (1) to (8), the following sub-sections shall be substituted, namely:–– “(1) Notwithstanding anything to the contrary contained in any other provision of this Act, the assessment, reassessment or recomputation under subsection (3) of section 143 or under section 144 or under section 147, as the case may be, with respect to the cases referred to in sub-section (2), shall be made in a faceless manner as per the following procedure, namely:- (i) the National Faceless Assessment Centre shall assign the case selected for the purposes of faceless assessment under this section to a specific assessment unit through an automated allocation system; (ii) the National Faceless Assessment Centre shall intimate the assessee that assessment in his case shall be completed in accordance with the procedure laid down under this section; (iii) a notice shall be served on the assessee, through the National Faceless assessment Centre, under sub-section (2) of section 143 or under subsection (1) of section 142 and the assessee may file his response to such notice within the date specified therein, to the National Faceless Assessment Centre which shall forward the same to the assessment unit; (iv) where a case is assigned to the assessment unit, under clause (i), it may make a request through the National Faceless Assessment Centre for- (a) obtaining such further information, documents or evidence from the...

The CBDT issued Order videF. No. 187/3/2020-ITA-1 dated March 17, 2022under section 144B(2) of Income Tax Act, 1961for specifying the scope/cases to be done under the As part of the tax policy, vide Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020, section 144B was inserted in the Act toprovide the procedure for faceless assessmentwith effect from 01.04. 2021 and the Faceless Assessment Scheme, 2019 ceased to operate from that date. In partial modification of the Order under sub-section (2) of Section 144B of the Income tax Act, 1961, for specifying the scope / cases to be done under the Act, by F.No.187/3/2020-ITA-1 dated March 31, 2021, as amended by Orders of even number dated September 06, 2021, September 22, 2021 and December 16, 2021, the “Cases for which the time limit for completion expires on March 31, 2022 pending with the jurisdictional Assessing Officer as on March 15, 2022 or thereafter, which cannot be completed as per the procedure laid down under Section 144B of the Act due to technical procedural constraints in the given period of limitation,” the Order said. • • June 17, 2023 • Mahindra & Mahindra Financial Services Limited has invited applications for the post of RM & Senior RM. QUALIFICATIONS • Strong Communication skills with assertive attitude. • Knowledge of Banking and financial products such MF, Insurance, Fixed Deposits. • Strong follow up ability & keenness. Ability to spot opportunities in the portfolio for Upse...

Amendment of section 144B. 42. In section 144B of the Income-tax Act,–– (a) for sub-sections (1) to (8), the following sub-sections shall be substituted, namely:–– “(1) Notwithstanding anything to the contrary contained in any other provision of this Act, the assessment, reassessment or recomputation under subsection (3) of section 143 or under section 144 or under section 147, as the case may be, with respect to the cases referred to in sub-section (2), shall be made in a faceless manner as per the following procedure, namely:- (i) the National Faceless Assessment Centre shall assign the case selected for the purposes of faceless assessment under this section to a specific assessment unit through an automated allocation system; (ii) the National Faceless Assessment Centre shall intimate the assessee that assessment in his case shall be completed in accordance with the procedure laid down under this section; (iii) a notice shall be served on the assessee, through the National Faceless assessment Centre, under sub-section (2) of section 143 or under subsection (1) of section 142 and the assessee may file his response to such notice within the date specified therein, to the National Faceless Assessment Centre which shall forward the same to the assessment unit; (iv) where a case is assigned to the assessment unit, under clause (i), it may make a request through the National Faceless Assessment Centre for- (a) obtaining such further information, documents or evidence from the...

Case Details: Judiciary and Counsel Details • • Mrs Sunita Agarwal& Vipin Chandra Dixit, JJ. • Abhinav Mehrotra& Satya Vrata Mehrotra for the Petitioner. • A.S.G.I., Gaurav Mahajan& Naveen Chandra for the Respondent. Facts of the Case Assessee-company was engaged in the business of running a Flour mill, manufacturing Flour from Wheat. The assessee filed a writ petition before the Allahabad High Court on the grounds that the omission of sub-section (9) of Section 144B of the Income Tax Act was unconstitutional, being ultra-vires to the Constitution. Sub-section (9) of section 144B provided that the assessment proceedings would be invalid if the specified procedure of faceless assessment was not followed. The Finance Act, 2022 had omitted the provisions of sub-section (9) of Section 144B with retrospective effect, i.e. from 1.4.2021, i.e. from the date of its inception. It was argued that the omission of Section 144B(9) makes the entire Section 144B unconstitutional, since, the omission of the check/safeguard would result in an arbitrary, whimsical, capricious decision-making process. High Court Held The High Court held that sub-section (9) of Section 144B was omitted to streamline the faceless assessment process and address legal and procedural issues that arose during the implementation of this section, which was introduced in 2020. The amendments made by the Finance Act of 2022, which are the subject of this challenge, are procedural in nature and are intended to simplify...

Section 144B of the Income Tax Act: Faceless Assessment (1) Notwithstanding anything to the contrary contained in any other provisions of this Act, the assessment under sub-section (3) of (i ) the National Faceless Assessment Centre shall serve a notice on the assessee under sub-section (2) of (ii ) the assessee may, within fifteen days from the date of receipt of notice referred to in clause (i ), file his response to the National Faceless Assessment Centre; (iii ) where the assessee— (a ) has furnished his return of income under (b ) has not furnished his return of income in response to a notice issued under sub-section (1) of (c ) has not furnished his return of income under sub-section (1) of the National Faceless Assessment Centre shall intimate the assessee that assessment in his case shall be completed in accordance with the procedure laid down under this section; (iv ) the National Faceless Assessment Centre shall assign the case selected for the purposes of faceless assessment under this section to a specific assessment unit in any one Regional Faceless Assessment Centre through an automated allocation system; (v ) where a case is assigned to the assessment unit, it may make a request to the National Faceless Assessment Centre for— (a ) obtaining such further information, documents or evidence from the assessee or any other person, as it may specify; (b ) conducting of certain enquiry or verification by verification unit; and (c ) seeking technical assistance from...

..... nit, under clause (i), it may make a request through the National Faceless Assessment Centre for- (a) obtaining such further information, documents or evidence from the assessee or any other person, as it may specify; (b) conducting of enquiry or verification by verification unit; (c) seeking technical assistance in respect of determination of arm s length price, valuation of property, withdrawal of registration, approval, exemption or any other technical matter by referring to the technical unit; (v) where a request under sub-clause (a) of clause (iv) has been initiated by the assessment unit, the National Faceless Assessment Centre shall serve appropriate notice or requisition on the assessee or any other person for obtaining the information, documents or evidence requisitioned by the assessment unit and the assessee or any other person, as the case may be, shall file his response to such notice within the time specified therein or such time as may be extended on the basis of an application in this regard, to the National Faceless Assessment Centre which shall forward the reply to the assessment unit; (vi) where a request,- (a) for conducting of enquiry or verification by the ver ..... x x x x x Extracts x x x x x Section 144B - Faceless assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x ..... submit as to why the proposed variation should not be made and serve such show cause notice, on the assessee, through the National Faceless Assessment Centre; (xi...