07 February 2024
The assessee having turnover of Rs 1.50 crore but didn't file income returns for 19-20. Case taken for scrutiny in faceless assessment. The assessee did not respond neither filed the returns. Best judgement order passed. Now only the assessee wakes up and wants to file returns. Can the experts advise how to face the situation please.
08 February 2024
If the taxable person files a valid return within 30 days from the above assessment order, then the best judgement assessment order will be withdrawn. Valid return includes return along with payment of all due taxes. However, late fees, penalty, interest will still be payable in best judgement orders.
09 February 2024
As the return has not been filed I tried to file as original returns but system not allowing. Kindly give under which provision the ITR has to be filed.
09 February 2024
Upon receiving best judgment assessment an assessee can file an appeal under Section 246A of the Act or can file a revision under Section 246 of the Act before the Income Tax Commissioner. An assessee gets an opportunity of being heard before the best judgment assessment is made.
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