Assessing Officer - Law Dictionary Search Results
Assessing Officer
Matched in: Term Assessing Officer
Regular assessment
Regular assessment, section 148 mandates the Assessing Officer to serve a notice on the assessee before making the assessment, reassessment or re-computation under s. 147. From … re-computation under s. 147. From the aforemen-tioned provisions, it is manifest that an initial assessment made by the Assessing Officer either on the assessee voluntarily furnishing a return of the income or furnishing such a return on being
Record
or Privy Council. Record in s. 35(1) of the Income-tax Act, 1922 refers not only the order of assessment but it comprises all proceedings on which the assessment order is based and the Income-tax Officer is entitled
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Valuable security
security' under s. 420, IPC. Therefore, if the cheating, employed by the accused, resulted in inducting the Income-tax Officer to make a wrong assessment order, it would amount to inducing the Income-tax Officer, to make a 'valuable … [Dowry Prohibition Act, 1961 (28 of 1961), s. 2, Expl. II; (English) Penal Code, 1860, s. 30] The assessment order is certainly a 'document', under s. 29, IPC. The order of assessment does create a right, in
Levy
was wide enough to comprehend re-assessment proceedings under section 34 of the Income Tax Act, 1922, Income Tax Officer v. K.N. Guruswamy, AIR 1958 SC 808: (1959) SCR 785. Levy under section 14(e) of Finance Act, 1950, … [see Central Excise Act, 1944 (1 of 1944)] [fr. levo, Lat.], the act of raising money or men. Assessment and collection of income tax The expression 'levy, assessment and collection of income-tax' in section 13(1) of the
Final order
of the Commissioner under s. 33A required the Income-tax Officer to look into the books of account of assessee and make an estimate in the light of the material based on those books and directed him to
Accounting profits and assessable profit
these two concepts, 'accounting profits' and 'assessable profit', are distinct. In arriving at the assessable profits the Income-tax Officer may disallow many expenses actually incurred by the assessee; and in computing his income, he may include many … Accounting profits and assessable profit, these two concepts, 'accounting profits' and 'assessable profit', are distinct. In arriving at the assessable profits the
Smallness of profit
profits in comparison with the assessable profits of the year. In arriving at the assessable profits the Income-tax Officer may disallow many expenses actually incurred by the assessee; and in computing his income, he may include many … Smallness of profit, the Legislature has deliberately used the expression 'smallness of profit' and not 'smallness of assessable income' and there is noth-ing in the context in which the expression 'small-ness of profit' occurs which justifies
Public officer
Matched in: Term Public officer
Consideration
does not mean incidental or collateral examination of any matter by the Income-tax Officer in the process of assessment. There must be something in the assessment order to show that the Income-tax Officer applied his mind to
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