Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2000 (4) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2000 (4) TMI 6 - HC - Income TaxReassessment of income escaping assessment – limitation – jurisdiction - four years prescribed under the proviso to section 147 have to be read with section 149 where the four years have been extended to seven years if the income chargeable that has escaped assessment is more than ₹ 50,000. The proviso to section 147 does not refer to the amount of escaped assessment. The only difference is that the notice under section 148, if issued within four years does not require any authority's sanction. But the Commissioner's sanction is required for notice issued after four years. The notice states that such sanction has been obtained. Therefore, the notice in reference to the petitioner's case cannot be held to be beyond the period of limitation.
|