Commercial Professionals Handbook on Faceless Assessment including Appeal&Penalty By CA G.Sekar Edition April 2022

Faceless Assessment Process was introduced in the Income Tax to provide for greater efficiency, transparency and accountability in Assessment Procedures. Section 144B was inserted in the Income Tax Act to provide the procedure for faceless assessment with effect from 01.04.2021. However, in implementing the faceless assessment procedures certain difficulties were encountered by the administration and by the Tax payers

In order to remove the difficulties in this existing faceless assessment procedure, Finance Act, 2022 amended Sec.144B which is expected to streamline the process and provide for effective Implementation of the Faceless Assessments. Consequently, various Faceless Assessment related schemes were also notified.

The Highlights of this New updated edition includes –

• Complete coverage of updated Faceless Assessment Procedures
• Detailed discussion of provisions of Income Tax Act relating to, Assessments Search, and other relevant topics.
• Separate topic of discussion for the latest schemes notified in such as-
• Faceless Appeal Scheme,2021
• Faceless Penalty Scheme,2021
• E-Advance Rulings Schemes,2022
• E-Settlement Scheme,2021 & E-Verification Scheme,2021
• Faceless Jurisdiction of Income Tax Authorities Scheme,2022
• E-Assessment of Income Escaping Assessment Scheme,202
• Faceless Inquiry or Valuation Scheme,2022

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