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

• Faceless Assessments under the newly inserted Section 144B of the Income Tax Act w.e.f. 01.04.2021
• Faceless Appeal Scheme, 2020 legislated w.e.f. 12.02.2021
• Faceless Penalty Scheme, 2021 incorporated w.e.f. 12.02.2021
• Legislative provisions concerning Faceless ITAT

The Present Publication authored by Mayank Mohanka, is the 4th Edition & amended by the following:

• The Finance Act, 2021
• The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2020
• All Important & Relevant CBDT’s Legislative Schemes, Circulars, Notifications & Press Releases on the Faceless Taxation Regime are updated till 31.03.2021

This book has the following noteworthy features:

• [Illustrative Tables, Infographics, Visuals & Real-time Scrutiny Windows] to explain the newly inserted Section 144B containing provisions for ‘Faceless Assessments’ and the Legislative Schemes of ‘Faceless Appeal Scheme, 2020’ and ‘Faceless Penalty Scheme, 2021’.
• [Real-time Practical Case Studies] on ‘Faceless Assessments’ on issues of:
  o Addition on account of HSBC Foreign Bank Account
  o Reassessment on account of Information from another IT Authority
  o Admission of Additional Evidence under Rule 46A
  o Cash Deposits out of Earlier Cash Withdrawals
  o Addition on account of considering Rental Business Income as Income from House Property
  o Appeal against Revisionary Order u/s 263
  o TDS on Transmission & Wheeling Charges
  o Appeal against Rectification Order u/s 154
  o Cash Deposits during Demonetization
  o Valuation of Shares u/s 56(2)(x)
  o Share Capital/Share Premium
  o LTCG on Penny Stocks
  o Disallowance u/s 14A/Rule 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 & Meritorious] ‘e-Responses/Submissions’ on ‘Faceless Assessments & Faceless Appeals’
• Practicalities & Nuances of Differences between the Conventional Assessments, Appeals and Penalty Proceedings & the New Faceless Assessments, Appeals and Penalty Proceedings.
• [‘Step-by-Step-Manner’ through ‘Real-time’ ‘e-Proceedings’ windows] for demonstrating the actual conduct of ‘Faceless Assessments’, ‘Faceless Appeals’ & ‘Faceless Penalty’ proceedings
• [Practical Guide] to ‘e-Filing of Rectification Applications u/s 154’ & ‘e-Responses to Outstanding Income Tax Demands’.
• [Doctrine of Audi Alteram Partem] Critical Litigative Issues in the Faceless Taxation Regime
• Faceless ITAT: Some Key Issues
• FAQs on the ‘Faceless Taxation Regime’
• International Best Practices in Tax Administration & Indian Tax Administration