Scope of scrutiny assessment in AIR cases under Income Tax Act 1961

0 comments Thursday, March 17, 2011
Income Tax Department nowadays selects almost all cases for scrutiny assessment under section 143(2) of Income Tax Act 1961 based upon AIR(Annual Information Return) transactions or through CASS. It is sometimes seen that when a case is selected for scrutiny assessment on the basis of AIR transactions, assessing officer also sometime tend to make additions on grounds other than AIR transactions like on the basis of inadequate withdrawls etc or on the basis of estimated additions.

Read On
Subscribe to: Posts ( Atom )