Every taxpayer must furnish the details of his income to the Income-tax Department i.e. return. 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” Under the Income-tax Law, there are four major assessments as given below:
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.
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