Faceless assessment a big success, to be future norm: CBDT chief

Faceless assessment a big success, to be future norm: CBDT chief

Given the encouraging initial results of the faceless assessment process for income-tax returns, the Central Board of Direct Tax (CBDT) is convinced that it is going to be the norm in future. Speaking to FE, CBDT chairman Pramod Chandra Mody said the strength of the new system lies in inherent anonymity of the taxpayer it allows and objectivity of the process.

However, he hastened to add that no decision has been taken on extending the process to all e-returns filed every year, 6 crore at last count.

The income-tax department had selected about 58,000 cases for faceless assessment in October last year. So far, about 8,000 cases have been disposed of without making any addition to taxpayers taxable income. However, review is required in about 300 cases on whether additions have been missed or undue additions have been made.

Further, Mody said that new form of team-based assessment process would also bring down litigation and compress the time-frame of concluding a dispute. He was responding to a question on whether the new process would help in expediting black money cases, unlike the recent case involving a Swiss bank account holder, in which income tax department received a favourable order from the tribunal after 6 years despite having clinching information since 2014