Assessments under the Income-tax Law Interview Questions & Answers

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​​​Every taxpayer has to furnish the details of his income to the Income-tax Department. These details are to be furnished by filing his return of income. Once the return of income is filed by the taxpayer, the next step is the processing of the return of income by the Income-tax Department. The Income-tax Department examines the return of income for confirming its correctness. The process of examining the return of income by the Income-tax Department is called “Assessment”. Assessment also includes re-assessment or best judgment assessment under section 144​.​ Under the Income-tax Law, there are four major assessments: Section 143(1), i.e., Summary assessment without calling the assessee i.e. taxpayer, Assessment under section 143(3), i.e., Scrutiny assessment, Assessment under section 144, i.e., Best judgment assessment, Assessment under section 147​, i.e., Income escaping assessment.​