Income Tax Assessment in Remand Proceedings

The Income-tax (IT) department checks the return of income for its correctness. The procedure of reviewing the return of payment by the Income-tax department is known as assessment. The assessment also includes reassessment and judgment assessment u/s 144. A reassessment proceeding is an essential provision under Income Tax Act. If an income which otherwise would have been taxable has due to some cause, has escaped assessment, for particular assessment year,… Read More »The Income Tax Assessment in Remand Proceedings