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Friends, it is often said that a "Poem" conveys your thoughts in lesser words but with a greater impact. So, here is a "Poetic Tribute to the New Era of Faceless Assessments" by our Founder Director, Shri Mayank Mohanka, in his Poem titled, "What's in a Face?". The entire scheme of Faceless Assessments has been explained beautifully in a poetic manner by the author." 

“What’s in a Face?”

A Poetic Tribute to the New Era of Faceless Assessments

“What’s in a Name?”, said Shakespeare,

“What’s in a Face?”, CBDT Veers.  

With “Anonymity” as the New Norm,

Faceless Assessments have Born.

Artificial Intelligence,

Captures Transactions’ Evidence.

Machine Learning,

Digs into Assessee’s Earnings.

Between the Assessee & Assessor,

NaFAC acts as a Match-maker.

Cases are assigned through automatic allocation,

Assessments are now agnostic location.

AOs have been Replaced with Dynamic Jurisdiction,

Assessments are now Expected to have more Conviction.

Thing of the Past is now Physical Appearance,

What will now Count is Assessee’s Perseverance.

Notices are sent through e-Filing Portal,

Assessees need to e-file their replies, full Throttle.

Written Submissions have Replaced Verbal Pleadings,

All e-Filings to be done only through e-Proceedings.

Increasing the per-attachment uploading size from 5 Megabytes,

May act as Shining Armour in the Knight.

All Communications are to be in Electronic Mode,

Income Tax Offices, have become the Less Travelled Road.

Faceless Assessments do avoid ‘Conveyance-kharcha’,

Though Miss out on that ‘Chai pe Charcha’.

High Courts set-aside Faceless Assessment Orders bringing Injustice,

And Mandate Adoption of Principle of Natural Justice.

With Addition of Personal Hearing through Video Conference,

Principle of Natural Justice gets the much-needed Credence.

Faceless Assessments strengthen, with VCs being Embodied,

Though, Omission of Section 144B(9) could have been Avoided.

Assessment Units to prepare Income or Loss Determination Proposal,

Before giving Assessment Order, the Final Disposal.

Getting Acknowledgements of Filed Submissions is No More Difficult,

As Acknowledgements are Automatically Generated with Hash Result.

Technology gives Faceless Assessments, an Amazing Facelift,

Tax Administration undergoes a Paradigm Shift.

Lets’ Accept & Embrace them, without any Dismay,

As Faceless Assessments are here to Stay.

(By Mayank Mohanka)

Useful Reference: This Poem has been treasured in the thoroughly re-written 5th Edition of the Book- "Faceless Assessment Appeals & Penalty Ready Reckoner with Real Time Case Studies", authored by our Founder Director, Shri Mayank Mohanka, FCA, and published by Taxmann Publishers.

This Book is a ‘READY RECKONER’ & Your ‘Go-TO-GUIDE’ for each and everything, which You may wish to Know, Understand & Learn about the New ‘Faceless Taxation Regime’.

Crafted with acute precision, this Special & Exclusive Edition of the Book, will help and support the assessees and tax practitioners in carrying out of their faceless assessments, faceless appeals, faceless penalty and all other faceless proceedings, in an effective, qualitative, professional and timely manner.

This Book is characterised by its ‘Thread Bare Analysis of the Newly Amended Faceless Regime by the Finance Act, 2022. An honest and sincere effort has been made in this Book to explain and demonstrate the practical aspects and nitty-gritties of the New ‘Faceless Taxation Regime’ in a ‘step-by-step-manner’ through real time practical case studies in the new e-Proceedings utility, in the new e-Filing portal of Income tax department, encompassing crucial and significant scrutiny and appeal issues having immense relevance and practical utility for all the assesses and tax practitioners.

Key Highlights:

• The newly substituted section 144B containing amended provisions for ‘Faceless Assessment’s and the Amended Legislative Scheme of ‘Faceless Appeal Scheme, 2021’ and ‘Faceless Penalty Scheme, 2021’, have been explained lucidly with illustrative tables, infographics, visuals & real-time scrutiny windows.

• ‘Real-time Practical Case Studies’ on ‘Faceless Assessments/Reassessments/Appeal/Penalty Proceedings’ on issues of:

  • • 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 all above critical and recurring issues, which one encounters 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 to ‘Faceless Assessments’, ‘Faceless Appeals’ & ‘Faceless Penalty’ Proceedings, demonstrating their actual conduct in a ‘Step-by-Step-Manner’ through ‘Real-time’ ‘e-Proceedings’ windows.

• Practical Guide to ‘e-Filing of Rectification Applications u/s 154’ & ‘e-Responses to Outstanding Income Tax Demands’.

• Practical Guide to Seeking & Utilising the Opportunity of Personal Hearing through Video Conferencing in new e-Proceedings Utility.

• FAQs on the ‘Faceless Taxation Regime’.

• Deciphering Critical & Litigative Issues in the Faceless Taxation Regime, like:

1. What Would Constitute a Valid Issuance & Service of a Faceless Income Tax Notice;

2. Whether Omission of section 144B(9), Makes Faceless Assessments conducted in Violation of Principle of Natural Justice, Immune?

3.  Whether NaFAC can be considered as a Lawful Substitute for Recording of Satisfaction by Jurisdictional AO?

4. Validity of Frequent Transfer of Faceless Assessments & Penalty Cases, from Faceless Hierarchy to Jurisdictional AO

5. Legality of the fixing of the maximum time limit for filing all the ‘e-responses’ by the assessee under the ‘e-proceedings’ functionality under faceless assessments.

6. Validity of Exercise of Revisionary Powers by an Individual Jurisdictional CIT(Appeal) u/s 263/264, over an Order passed my a Dynamic Jurisdiction in Faceless Hierarchy.

7. What are adequate Safeguards for Avoiding High-Pitched Assessments in Faceless Regime?

 Lucid Explanation of the newly inserted legislative faceless schemes like ‘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 and e-Settlement Scheme, 2021 u/s 245D of the Income Tax Act

• International Best Practices in Tax Administration & Indian Tax Administration

• All Important and Relevant CBDT’s Circulars, Notifications & Press Releases on the ‘Faceless Taxation Regime’ updated till 15.4.2022.

This Book is now available in all leading Book Stores and also online at Amazon & Taxmann 

https://www.taxmann.com/bookstore/product/7880-faceless-assessment-appeals-penalty-ready-reckoner

Taxmann's Faceless Assessment Appeals & Penalty Ready Reckoner with Real-Time Case Studies – Threadbare analysis of the Faceless Regime amended by the Finance Act 2022 https://www.amazon.in/dp/9356220379/ref=cm_sw_r_apan_i_RXGMDGPVJEWSY6ERBTR1