The Madras High Court recently clarified that both the Faceless Assessment Officer and Jurisdictional Assessment Officer have concurrent jurisdiction as far as assessment, re-assessment or re-computation under Section 147 of the Income Tax Act. In such case, the FAO will not have any jurisdiction to make assessment, re-assessment or re-computation…As far as the issuance of notice under Section 148 of …
The government on Monday allowed businesses with no tax liability to file their tax returns through a text message and rolled out faceless customs clearance of shipments at Bengaluru and Chennai to make life easier for businesses. The new procedure called ‘turant customs’ seeks to offer quick clearance of imports after a remote and faceless assessment by officials located outside …
