Core concepts
- 01Returns: ITR-1 to ITR-7; due dates (31 July / 31 October / 30 November).
- 02Sec 143(1) — intimation; Sec 143(3) — scrutiny; Sec 144 — best judgment; Sec 147 — reassessment.
- 03Faceless assessment scheme — National Faceless Assessment Centre (NaFAC).
- 04Appeals hierarchy: CIT(A) → ITAT → High Court → Supreme Court.
- 05Time limits: Sec 153 — scrutiny 12 months from end of AY (extended in some cases).
Flowchart summary
Assessment Hierarchy File Return -> Sec 143(1) Intimation | Scrutiny? -> Sec 143(2) Notice | Sec 143(3) Assessment | Appeal: CIT(A) -> ITAT -> HC -> SC | Revision: 263 (CIT against AO), 264 (CIT for assessee)
Exam-critical pointers
- ⭐Faceless assessment, faceless appeal — most assessments now under this scheme.
- ⭐Sec 147 (post-Finance Act 2021) — incriminating material / Sec 148A enquiry mandatory.
- ⭐Vivad se Vishwas: amnesty schemes for pending disputes — latest 2024 version active.
- ⭐Sec 270A — penalty for under-reporting (50%) and mis-reporting (200%).
Make it click