RAJ (CA) (120 Points)
05 April 2010Received Intimation u/s 143(1) to pay Interest u/s 234A, B & C for the F.Y 2006-2007 & F.Y 2007-2008. The Interest has been accordingly paid.
Does this Intimation u/s 143(1) implies that the ITR's for the said Financial years has been passed or in other words normally they will not come under scrutiny.
MOHIT MAHAJAN
(LCS, ACA)
(2050 Points)
Replied 05 April 2010
Intimation u/s 143(1) is not assessment i.e. notice under section143(2) can be issued even after issuing intimation u/s 143(1). Hence your case can still come under scrutiny assessment.
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 05 April 2010
An intimation u/s 143(1) is generated when ur return is processed at initial stage. The new system of our tax dept. is to process 100 % returns. In this processing, they just see the apparent inaccurate particulars in the return for eg. wrong calculation of tax or taking wrong amount as credit of TDS while details under TDS is different than actually claimed.
These inconsistencies lead to change in income and consequently tax and interest amt. also.
Now after passing throutgh this stage. the second phase is to select cases for scrutiny. so Its a totally seperate phase and any case on which intimation is sent, it can very well be taken for scrutiny..!!!!!!!!!
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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