The Assessing Officer can complete the assessment under section 144 of the Act even though there is no failure on the part of assessee under section 139(1), 139(4), 139(5), 142(1), 142(2A) or 143(2) of the Act. Such powe

CS Executive · Tax Laws · PYQS · December 2019

The Assessing Officer can complete the assessment under section 144 of the Act even though there is no failure on the part of assessee under section 139(1), 139(4), 139(5), 142(1), 142(2A) or 143(2) of the Act. Such powers by the A.O. may be exercised in which of the following situations:

(A) Where the A.O. is not satisfied about the correctness or completeness of the accounts of the assessee

(B) Where the method of accounting has not been regularly followed by the assessee

(C) Where the income has not been computed in accordance with "ICDS" notified by the Central Government u/s 145(2)

(D) Any of above three or in all the three above situations

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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The Assessing Officer can complete the assessment under section 144 of the Act even though there is no failure on the part of assessee under section 139(1), 139(4), 139(5), 142(1), 142(2A) or 143(2) of the Act. Such powe

Answer & Explanation:

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