83AAA. Assessment on the basis of report of a chartered accountant. -

1[83AAA. Assessment on the basis of report of a chartered accountant.  -

(1) Where a return or revised return is filed under Chapter VIII by an assessee being a company and the Board has reasonable cause to believe that the return or  revised  return  is  incorrect  or  incomplete,  the  Board  may  appoint  a registered chartered accountant to examine the accounts of that assessee.

(2)  The  chartered  accountant  appointed  under  sub-section  (1)  shall  exercise the powers and functions of the Deputy Commissioner of Taxes as referred to in section 79 and clauses (a), (b), (c), (d) and (e) of section 113.

(3)  The  chartered  accountant,  after  examination  of  the  accounts  of  that assessee,  shall  submit  a  report  in  writing  to  the  Board  alongwith  findings within a time as may be specified by the Board.
(4)  On  receipt  of  the  report  referred  to  in  sub-section  (3),  the  Board  shall forthwith forward the report to the concerned Deputy Commissioner of Taxes for consideration.
(5) On receipt of the report under sub-section (4), the Deputy Commissioner of  Taxes  shall  serve  a  notice  upon  the  assessee  under  sub-section  (1)  of section 83.
(6)  The  Deputy  Commissioner  of  Taxes  shall,  after  hearing  the  person appearing  and  considering  the  evidences  produced  including  the  findings stated  in  the  report  received  under  sub-section  (5)  and  also  considering  the other  evidences,  by  an  order  in  writing,  assess  within  thirty  days  after  the completion of hearing or consideration, as the case may be, the total income of  an  assessee  and  shall  determine  the  sum  payable  by  the  assessee  on  the basis  of  such  assessment,  and  communicate  the  said  order  to  the  assessee within thirty days from the date of such order.]



1Ins. by F.A. 2000

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