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Taxmann Faceless Assessment Appeals and Penalty Ready Reckoner with Real Time Case Studies

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Taxmann Faceless Assessment Appeals and Penalty Ready Reckoner with Real Time Case Studies

This book is a ready reckoner for the assessee and tax practitioners to understand the practicalities and nuances of the Faceless Assessments, Faceless Appeal Scheme, 2021, and Faceless Penalty Scheme, 2021 in an effective, qualitative, and timely manner. It also incorporates 25+ Real-time Practical Case Studies on Faceless Assessments.

Faceless Assessment Appeals & Penalty Ready Reckoner with Real Time Case Studies

Original price was: ₹1,495.Current price is: ₹1,196.

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    Taxmann Faceless Assessment Appeals and Penalty Ready Reckoner with Real Time Case Studies Description

    This book is a ready reckoner for the assessee and tax practitioners to understand the practicalities and nuances of the following in an effective, qualitative, and timely manner:

    • Faceless Assessments u/s 144B of the Income-tax Act as amended by the Finance Act, 2022
    • Newly substituted Faceless Appeal Scheme, 2021 introduced w.e.f. 28.12.2021
    • Faceless Penalty Scheme, 2021 introduced w.e.f. 12.01.2021
    • The newly inserted legislative faceless schemes are also explained:
      • e-Assessment of Income Escaping Assessment Scheme, 2022 u/s 151A
      • Faceless Jurisdiction of Income-tax Authorities Scheme, 2022 u/s 130
      • e-Verification Scheme, 2021 u/s 135A
      • e-Advance Rulings Scheme, 2022 & e-Settlement Scheme, 2021 u/s 245D

    The Present Publication is the 5th Edition, authored by Mayank Mohanka. This book is amended by the Finance Act 2022 & updated till 15th April 2022, with the following noteworthy features:

    • [Lucid Explanation with Illustrative Tables, Infographics, Visual & Real-time Scrutiny Windows] for the Faceless Assessment, Faceless Appeals Scheme 2021 & Faceless Penalty Scheme 2021
    • [25+ Real-time Practical Case Studies] on Faceless Assessments on the following issues:
      • Addition on account of Belated Deposit of Employees’ Contribution towards PF & ESI
      • Disallowance of Foreign Tax Credit to Residents on account of Non/Delayed Filing of Form 67
      • Disallowance of Unexplained Expenditure
      • Disallowance of Deduction to Export Oriented Units in Special Economic Zones
      • Disallowance of Bad Debts
      • Additions made on Estimated Income Basis
      • Additions made in the hands of Group Housing Societies
      • Addition on account of HSBC Foreign Bank Account
      • Reassessment on account of Information from another IT Authority
      • Admission of Additional Evidence under Rule 46A
      • Cash Deposits out of earlier Cash Withdrawals
      • Addition on account of considering Rental Business Income as Income from House Property
      • Appeal against Revisionary Order u/s 263
      • Appeal against TDS Order u/s 201/201(1A)
      • Appeal against Rectification Order u/s 154
      • Cash Deposits during Demonetisation
      • Valuation of Shares u/s 56(2)(x)
      • Share Capital u/s 68
      • Share Premium u/s 56(2)(viib)
      • LTCG on Penny Stocks
      • Disallowance of Pre-commencement Business Expenditure
      • Taxability of Compensation received under RFCTLAAR Act, 2013
      • Revenue Recognition & Expenditure Booking in Real Estate Business
      • Bogus Purchases
      • Seized Diary
      • AIR/STR information
    • [Specimens of Suggestive Qualitative & Meritorious e-Responses/Submissions] on critical and recurring issues encountered in tax practice
    • [Practicalities & Nuances] of differences between the Conventional Assessments, Appeals and Penalty Proceedings & the New Faceless Assessments, Appeals and Penalty Proceedings
    • [Practical Guide] for the following topics:
      • [Actual Conduct of Proceedings] for Faceless Assessments, Faceless Appeals & Faceless Penalty, demonstrated in the following manner:
        • Step-by-Step
        • Through the Real-time e-Proceedings window
      • [e-Filing & e-Responses] of rectification applications u/s 154 & outstanding income tax demands respectively
      • [Seeking & Utilising the Opportunity of Personal Hearing] through video conferencing in the new e-Proceedings Utility
    • [Deciphering Critical & Legislative Issues] on the Faceless Taxation Regime, such as:
      • What would constitute a valid issuance & service of a faceless income tax notice?
      • Whether the omission of section 144B(9) makes faceless assessments conducted in violation of the principle of natural justice immune?
      • Whether NFAC can be considered as a lawful substitute for recording of satisfaction by jurisdictional AO?
      • What is the validity of a frequent transfer of faceless assessments & penalty cases from faceless hierarchy to jurisdictional AO?
      • What is the legality of fixing the maximum time limit for filing all the e-responses by the assessee under the e-proceedings functionality under faceless assessments?
      • What is the validity of the exercise of revisionary powers by an individual jurisdictional CIT(Appeal) u/s 263/264 over an order passed by a dynamic jurisdiction in the faceless hierarchy?
      • What are adequate safeguards for avoiding high-pitched assessments in the faceless regime?
    • [Frequently Asked Questions/FAQs] on the Faceless Taxation Regime
    • [International Best Practices] in Tax Administration & Indian Tax Administration
    • [Latest CBDT’s Circulars, Notifications & Press Releases] on the Faceless Taxation Regime updated till 15.04.2022

    The detailed contents of this book are as follows:

    • Evolution of Faceless Regime: From Caterpillar to Butterfly
    • Amended Faceless Regime in Finance Act, 2022
    • Practical Guide to e-Proceedings
    • Practical Case Study on Addition of Receipts of a Residents’ Welfare Society in Faceless Assessments
    • Practical Case Study on Denial of Foreign Tax Credit in Faceless Assessment
    • Practical Case Study on Addition of Share Capital & Share Premium Receipts in Faceless Assessments
    • Practical Case Study on Addition of Long-Term Capital Gain on Penny Stocks in Income Escaping Assessment
    • Practical Case Study on Disallowance of Exemption u/s 10AA in Faceless Assessment
    • Practical Case Study on Disallowance of Pre-commencement Business Expenditure in Faceless Assessments
    • Practical Case Study on Addition of Compensation Received under RFCTLARR Act, 2013 in Faceless Assessments
    • Practical Case Study on Revenue Recognition & Expenditure Booking in Real Estate Business in Faceless Assessments
    • Practical Case Study on Disallowance of Purchases treating them as Bogus
    • Practical Case Study on Additions Based on Seized Diary
    • Practical Case Study on Addition based upon Annual Information Return (AIR)
    • Practical Case Study on Cash Deposits during Demonetisation
    • Practical Case Study on Valuation of Shares u/s 56(2)
    • Decoding Lesser-known Nuances of Faceless Assessment
    • International Best Practices & Indian Tax Administration
    • FAQs of Faceless Regime
    • Key Takeaways of SOPs issued by NeAC for Faceless Assessments
    • Miscellaneous Faceless Schemes under The Income-Tax Act, 1961
    • Faceless Appeals in its New Avatar
    • Decoding Faceless Appeal Scheme, 2021
    • Practical Guide to Faceless Appeals
    • Practical Case Study on Faceless Appeals on Disallowance of Employee’s Contribution to PF & ESI
    • Practical Case Study on Faceless Appeals: Addition in Respect of Foreign Bank Account
    • Practical Case Study on Addition Based on Information Received from another IT Authority
    • Practical Case Study on Faceless Appeals: Admission of Additional Evidence
    • Practical Case Study on Faceless Appeals: Cash Deposits during Demonetisation
    • Practical Case Study on Faceless Appeals: AO’s Treatment of Business Rental Income as Income from House Property
    • Practical Case Study on Appeal before ITAT: Challenge to Revisionary Order u/s 263
    • Practical Case Study on Appeal Representation in respect of Section 201 Order
    • Practical Case Study on Faceless Appeals: Challenge to Rectification Order u/s 154
    • Practical Case Study on Faceless Appeals on Addition of Unexplained Expenditure & Disallowance of Bad Debts
    • Decoding the New Rules of Penalty Shoot-Out: Faceless Penalty Scheme, 2021
    • Practical Guide to e-Filing of Rectification Application & Response to Outstanding Demand
    • Analysis of High Court Judgments on Faceless Assessments & Lessons Learnt

    Taxmann Faceless Assessment Appeals and Penalty Ready Reckoner with Real Time Case Studies

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