Taxmann’s Faceless Assessment & Appeals Ready Reckoner with Real Time Case Studies

This book is a ready-reckoner for the assessees and tax practitioners, to understand the ‘Faceless Assessment Scheme, 2019 & Faceless Appeal Scheme, 2020, in an effective, qualitative and timely manner. An honest and sincere effort has been made in the book, to explain & demonstrate the practical aspects and nitty-gritties of the Scheme. This book aims to fully familiarise the reader, with the following points:


•Manner, mode and methodology of conducting the faceless assessments


•Viewing and retrieving of e-scrutiny notices


•Requisitions in the registered e-filing accounts


•E-filing and uploading of qualitative and meritorious e-responses to notices and requisitions



The Present Publication authored by Mayank Mohanka, is the 3rd Edition & updated up to 10th December 2020, with the following noteworthy features:


• [Illustrative Tables, Infographics, Visuals & Real-time Scrutiny Notices] The New ‘Faceless Assessment Scheme, 2019’ & ‘Faceless Appeal Scheme, 2020’ have been explained lucidly with illustrative tables, infographics, visuals & real-time scrutiny windows


•Practicalities and nuances of difference between the conventional and faceless assessments and appeals


• [Step-by-Step Manner; e-Proceedings Window] Demonstration of the actual conduct of faceless assessments and faceless appeals in a step-by-step manner through real-time e-Proceedings windows


• [Practical Case-Studies] Real-time practical case studies on faceless assessments on various issues, such as:


𝚘 Cash Deposits during demonetisation


𝚘 Valuation of Share u/s 56(2)(x)


𝚘 Share Capital/Share Premium


𝚘 LTCG on Penny Stocks


𝚘 Disallowance u/s 14A, Rules 8D


𝚘 Disallowance of Pre-commencement Business Expenditure


𝚘 Taxability of Compensation received under RFCTLAAR Act, 2013


𝚘 Revenue Recognition & Expenditure Booking in Real Estate Business


𝚘 Bogus Purchases, Seized Diary, AIR/STR information


• [Specimens] of suggestive qualitative and meritorious e-responses on faceless assessments


• [FAQs] on the new Faceless Assessment Scheme, 2019


•Key Takeaways from SOPs issued by NeAC for Faceless Assessments; and


• [Amended] New Faceless Regime as per the Taxation Amendment Act, 2020


•Contents of the book are as follows:



Faceless Assessments


𝚘 New Face of Faceless Assessments


𝚘 Decoding the New Faceless Assessment Scheme, 2019


𝚘 Practical Guide to Faceless Assessment


𝚘 12 Practical Case Studies


𝚘 Practical Guide to e-Filing of rectification application u/s 154 & e-response to outstanding Income-tax demand


𝚘 Decoding lesser known nuances of Faceless Assessment Scheme 2019


𝚘 Faceless Assessment: Few Critical Suggestion to Make them Flawless


𝚘 International Best Practices & Indian Tax Authorities


𝚘 FAQs on Faceless Assessment Scheme 2019


𝚘 Key takeaways of SOPs issued by NeAC for Faceless Assessments


𝚘 New Faceless regime as per ‘The Taxation Amendment Act, 2020’



Faceless Appeals


𝚘 Faceless Appeals: One more step towards Digital Tax Administration


𝚘 Decoding Faceless Appeal Scheme, 2020


𝚘 Practical Guide to Faceless Appeals


𝚘 Key Takeaways from Deliberations of Sr. Income Tax Department Dignitaries on Faceless Assessments & Appeals