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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961Extract ..... assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139: Provided that no notice under this section shall be issued unless there is information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment in the case of the assessee for the relevant assessment year and the Assessing Officer has obtained prior approval of the specified authority to issue such notice. 8[Provided further that no such approval shall be required where the Assessing Officer, with the prior approv ..... x x x x x Extracts x x x x x Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x ..... urvey is conducted under section 133A, other than under sub-section (2A) 11[****] of that section, on or after the 1st day of April, 2021, in the case of the assessee; or (iii) the Assessing Officer is satisfied, with the prior approval of the Principal Commissioner or Commissioner, that any money, bullion, jewellery or other valuable article or thing, seized or requisitioned under section 132 or under section 132A in case of any other person on or after the 1st day of April, 2021, belongs to the assessee; or (iv) the Assessing Officer is satisfied, with the prior approval of Principal Commissioner or Commissioner, that any books of account or documents, seized or requisitioned under section 132 or section 132A in case of any other person o ..... x x x x x Extracts x x x x x Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x ..... requiring him to furnish within such period, 3[* * *] as may be specified in the notice, a return of his income or the income of any other person in respect of which he is assessable under this Act during the previous year corresponding to the relevant assessment year, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed; and the provisions of this Act shall, so far as may be, apply accordingly as if such return were a return required to be furnished under section 139 :] 4[Provided that in a case- (a) where a return has been furnished during the period commencing on the 1st day of October, 1991 and ending on the 30th day of September, 2005 in response to a notice served u ..... x x x x x Extracts x x x x x Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x ..... hall, before issuing any notice under this section, record his reasons for doing so.]" 8. Inserted vide Finance Act, 2022 w.e.f. 01-04-2022 9. Omitted vide Finance Act, 2022 w.e.f. 01-04-2022 before it was read as "flagged" 10. Substituted vide Finance Act, 2022 w.e.f. 01-04-2022 before it was read as "(ii) any final objection raised by the Comptroller and Auditor-General of India to the effect that the assessment in the case of the assessee for the relevant assessment year has not been made in accordance with the provisions of this Act." 11. Omitted vide Finance Act, 2022 w.e.f. 01-04-2022 before it was read as "or sub-section (5)" 12. Substituted vide Finance Act, 2022 w.e.f. 01-04-2021 before it was rea ..... x x x x x Extracts x x x x x Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961 x x x x x Extracts x x x x x
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