Comparison between present income tax assessment and faceless assessment
Current vs Faceless Assessment
| Present Assessment System | Faceless Assessment System |
| Case selection through system, Manual & Tax evasion information |
1. No discretion to any officer in selection 2. No selection except through system red alerts 3. No selection other than information based |
| Single territorial jurisdiction |
Automated random allocation of cases |
| Issue of notices both manually and on system |
Notices to be issued electronically and centrally from the NeAC (Single point of faceless contact) |
| Physical meetings between the taxpayer and the officers |
No physical meeting with any officer |
| Wide discussion with officers leads to subjective approach and varying interpretions |
1. Team based assessment 2. Draft in one city, review in another city, finalisation in third city 3. Objective, fair and just order  |
- Penalty u/s 271B is not attracted where books of account not maintained – ITAT Allahabad
- NALCO invites RFP for empanelment of CA Firms for verification of Stores/Spares & movable assets
- Sending or bringing currency of Nepal and Bhutan – RBI revises regulations
- Manufacturing without aid of power. Entire process though by distinct units to be seen – SC
- Delay in filing Form 10B condoned as failure was in 1st year of operation of Trust
