WHAT IS ASSESSMENT ?
- Procedure for determining tax liability and recovery of tax
- Section 2(8): “Assessment” includes reassessment.
- “Assessment” is wide enough to include all types of assessments including penalty proceedings.
- Quasi-judicial proceedings
- Which Law Applicable–Issue of notice
- Sufficient opportunity of being heard
- Speaking order
- Rule of Evidence
TYPES OF ASSESSMENT :
- Inquiry before Assessment Section 142(1)
- Summary Assessment Section 143(1)
- Scrutiny Assessment Section 143(3)
- Best Judgment Assessment Section 144
- Reassessment Section 147
- Search Assessment Section 153A
- Others not as per Act, Evolved per convention