Income Tax--Reassessment

Checklist for Notices Issued under Section 148A/148

CA. Manoj Gupta

The learned author guides about what need to be done on receipt of notice under Section 148A(b) or Section 148 of the Act.

Issue 1 : Assessment year to which notice pertains and time limits applicable

On receipt of notice one has to check the assessment year to which the notice pertains. Then to check whether such notice could have been issued in accordance with the provisions of Section 149 of the Act.

As per Section 149 no notice under Section 148 shall be issued for the relevant assessment year, --

(a) if three years have elapsed from the end of the relevant assessment year, unless the case falls under clause (b);

(b) if three years, but not more than ten years, have elapsed from the end of the relevant assessment year unless the assessing officer has in his possession books of account or other documents or evidence which reveal that the income chargeable to tax, represented in the form of --