[aaykarbhavan] Approval of JCIT for assessment is not sacrosanct if CIT's approval is taken, proviso clarifies

 

(a)  Existing provisions of Section 153D

No order of assessment or reassessment shall be passed by an Assessing Officer below the rank of Joint Commissioner in respect of each assessment year referred to in clause (b) of sub-section (1) of section 153A or the assessment year referred to in clause (b) of sub-section (1) of section 153B, except with the prior approval of the Joint Commissioner.

(b)  Amendment proposed by the Finance Bill, 2013

Following proviso is proposed to be inserted with effect from the 1st day of April, 2016, namely:––

"Provided that nothing contained in this section shall apply where the assessment or reassessment order, as the case may be, is required to be passed by the Assessing Officer with the prior approval of the Commissioner under sub-section (12) of section 144BA".

(c)  Impact of the amendment

This is with a view to remove the procedural ambiguity the proviso makes it clear that section 153D shall not apply requiring approval by Joint commissioner of Income Tax, where the assessment / reassessment order is required to be passed by the Assessing Officer with the prior approval of the Commissioner under sub-section (12) of section 144BA. It is because an order passed under Section 144BA(12) is with the approval of an authority higher than the JCIT

Regards

Prarthana Jalan

__._,_.___

receive alert on mobile, subscribe to SMS Channel named "aaykarbhavan"
[COST FREE]
SEND "on aaykarbhavan" TO 9870807070 FROM YOUR MOBILE.

To receive the mails from this group send message to aaykarbhavan-subscribe@yahoogroups.com

Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___