1. If I.T.R. has not been filed by assessee, A.O. can issue notice under section 142(1) asking assessee to file I.T.R.
  2. A.O. will specify time within which return has to be filed.
  3. If Assessee fails to furnish return within the specified time then Best Judgement Assessment can be done by A.O. under section 144 .
  4. Loss cannot be carry forward if ITR filed in response to notice under 142(1) .
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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.