Sec 172, 174, 174a, 175

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 August 2013 It is said that it is responsibility of AO to taxed the individual in same financial year specified under respective sections, then if by mistake AO forget that then whether assessee will be have liability to inform the taxation matter to AO or not??

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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01 August 2013 Generally , it is the assessee who is required to discharge his tax liability obligations properly.
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When ever required, he may pursue the matter and request the AO in writing to complete the assessment otherwise in some of the circumstances unnecessarily the assessee has to wait .
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Where the person has left India with pending tax liability then there may be revenue loss to the department.

Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2013 Yes sir but if assessee didnt send request for assessment and tax liability is not settle in same previous year but in respective assessment year he pay taxes then whether he is liable for any interest or penalty?

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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02 August 2013 No, as I could understand, these provisions are for "the assessees in a hurry". Those who remain regular are not required to disturb the cycle unless the department reacts as "an AO in a worry"
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Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2013 ok thank you sir

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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31 August 2013 These sections are although governed by Income Tax Act but basically these section are the responsibility of the assesses. If the AO fails to complete the assessment then he cannot do so because without the assessment of these sections the foreign ship owners cannot more from the Indian Ports as the ships are within 25 noctive miles from Indian Sea Shore and accordingly they have to get the assessments completed and not completion of assessment but the payment of the tax is also compulsory as without payment of taxes no clearance will be given by the Port Authority of India.