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The recent case of Abhishek Shaw Vs ITO, adjudicated by the Kolkata Income Tax Appellate Tribunal (ITAT), reaches into the implications of setbacks within the faceless assessment regime. The same blog analyses the proceedings analyses the arguments delivered, and estimates the decision of ITAT. Detailed Analysis In Case of Abhishek Shaw The petition incurred via […]
A senior official recently disclosed plans within the Goods and Services Tax (GST) authorities to potentially introduce a faceless scrutiny assessment for tax returns. This new approach, unlike conventional methods, removes the need for physical interaction between tax officers and assesses, as well as the submission of physical documents. While faceless assessment has proven successful […]
New compliance for the income tax dept assessing officer has been announced by the Central Board of Direct Taxes (CBDT) so as to diminish the errors in the procedure and raise the faceless assessment system for the assessee. As per the decision, the assessing officer (AO) shall be needed to issue a show cause notice […]
The imposition by the Bombay High court upon the tax council specified that the actual costs on AO and suppressed the Faceless Assessment orders passed excluding the application of mind. The applicant is the owner of Mantra Industries ltd revocate the Income-tax department’s executions of the penalties with respect to it beneath section 274 read […]
Anurag Singh Thakur, The Minister of State for Finance added that till date no proposal has been made for “faceless scrutiny assessment of GST returns” by the Government. The reason being, the clause of the Goods and Services tax rule already contains a provision for electronic filing and assessment. He further added that except for […]
The Central Board of Indirect taxes and Customs (CBIC) has now empowered the customs officers and with it now they got the power to amend any document for the purpose of conducting a Faceless Assessment Know about the government’s newly introduced faceless income tax assessment for providing relief to the taxpayers. Also, check its benefits […]
The problem for criticizing the decisions for the bureaucratic opacity and ambiguous fiscal regulations has been seen at several times in India. But the country has improved business index from 134 in 2013 to 63 in 2020 owing to the e-governance which includes the initiation of electronic MOA and AOA, one program for communicating in […]
On 13th August 2020, Prime Minister Narendra Modi will launch the faceless assessment scheme for the Income-tax department. This will be set up and implemented by the National e-Assessment Centre (NeAC) and a network of Regional e-Assessment Centres. The regional assessment will include assessment units, verification units, technical units, and review units. The arrangement permits […]
The guidelines have been issued by the income tax department for limiting the roles of the officers for doing the faceless assessment by creating the National e-assessment centre(NeAC) the primary gateway in communicating with taxpayers. In Delhi, the Central Board of Direct Taxes has implemented the faceless assessment policy by notifying the National e-assessment Center […]
