The A.O. can complete the assessment u/s 144 of the Act even though there is no failure on the part of assessee u/s 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 i

CS Executive · Tax Laws and Practice · PYQS · June 2018

The A.O. can complete the assessment u/s 144 of the Act even though there is no failure on the part of assessee u/s 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 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 three above situations.

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Income Tax Act, 1961

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The A.O. can complete the assessment u/s 144 of the Act even though there is no failure on the part of assessee u/s 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 i

Answer & Explanation:

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