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Home Acts & Rules Income Tax Act Income-tax Act, 1961 Chapters List Chapter XIV PROCEDURE FOR ASSESSMENT This

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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961

Extract

..... 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 .....

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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961

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..... 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 .....

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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961

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..... 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 .....

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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961

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..... 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 .....

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Section 148 - Issue of notice where income has escaped assessment - Income-tax Act, 1961

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  1. 18/2022 - Dated: 29-3-2022 - e-Assessment of Income Escaping Assessment Scheme, 2022
  2. 119/2021 - Dated: 11-10-2021 - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2021-2022
  3. 82/2021 - Dated: 27-7-2021 - Income-tax (20th Amendment) Rules, 2021. - Amends Rule 12 - Return of income
  4. 38/2021 - Dated: 27-4-2021 - Modification of Notification Nos. 93/2020 dated the 31st December, 2020, No. 10/2021 dated the 27th February, 2021 and No. 20/2021 dated the 31st March, 2021
  5. 25/2021 - Dated: 31-3-2021 - CBDT authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC)
  6. F. No.173/165/2020 -ITA-I - Dated: 14-8-2020 - Guidelines for the implementation of Faceless Assessment Scheme, 2019
  7. 55/2019 - Dated: 26-7-2019 - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2019-20.
  8. 09/2012 - Dated: 17-2-2012 - Section 139 of the Income-tax Act, 1961 - Return of Income - Exemption to specified persons from requirement of furnishing a return of income under section 139(1) for assessment year 2012-13.
  9. 36/2011 - Dated: 23-6-2011 - Exemption Under Section 139(1) to Specified Person from the requirement of furnishing a return of income. - No need to file return where salary is not exceeding Rs. 5 Lakhs or Saving Bank Interest is not exceeding Rs. 10K, subject to certain conditions
  10. S.O.1178 - Dated: 11-2-1982 - CBDT directs that the Income-tax Officer, making the reassessment or recomputation under section 147 of the said Act, shall not issue a notice under section 148 of the said Act
  1. FINANCE ACT, 2002
  2. Section 90A - Adoption by Central Government of agreements between specified associations for double taxation relief - Income-tax Act, 1961
  3. Section 90 - Agreement with foreign countries or specified territories - Income-tax Act, 1961
  4. Section 276CC - Failure to furnish returns of income - Income-tax Act, 1961
  5. Section 271AAB - Penalty where search has been initiated - Income-tax Act, 1961
  6. Section 271 - Failure to furnish returns, comply with notices, concealment of income, etc - Income-tax Act, 1961
  7. Section 270A - Penalty for under-reporting and misreporting of income. - Income-tax Act, 1961
  8. Section 245A - Definitions - Income-tax Act, 1961
  9. Section 234A - Interest for defaults in furnishing return of income - Income-tax Act, 1961
  10. Section 176 - Discontinued business - Income-tax Act, 1961
  11. Section 174 - Assessment of persons leaving India - Income-tax Act, 1961
  12. Section 158BC - Procedure for block assessment - Income-tax Act, 1961
  13. Section 158BB - Computation of undisclosed income of the block period - Income-tax Act, 1961
  14. Section 153C - Assessment of income of any other person - Income-tax Act, 1961
  15. Section 153A - Assessment in case of search or requisition - Income-tax Act, 1961
  16. Section 153 - Time limit for completion of assessment, reassessment and recomputation. - Income-tax Act, 1961
  17. Section 151A - Faceless assessment of income escaping assessment - Income-tax Act, 1961
  18. Section 151 - Sanction for issue of notice - Income-tax Act, 1961
  19. Section 150 - Provision for cases where assessment is in pursuance of an order on appeal, etc. - Income-tax Act, 1961
  20. Section 149 - Time limit for notice - Income-tax Act, 1961
  21. Section 148B - Prior approval for assessment, reassessment or recomputation in certain cases - Income-tax Act, 1961
  22. Section 148A - Conducting inquiry, providing opportunity before issue of notice under section 148 - Income-tax Act, 1961
  23. Section 147 - Income escaping assessment - Income-tax Act, 1961
  24. Section 144B - Faceless assessment - Income-tax Act, 1961
  25. Section 143 - Assessment - Income-tax Act, 1961
  26. Section 140A - Self-assessment - Income-tax Act, 1961
  27. Section 139 - Return of income - Income-tax Act, 1961
  28. Section 135A - Faceless collection of information - Income-tax Act, 1961
  29. Section 124 - Jurisdiction of Assessing Officers - Income-tax Act, 1961
  30. Section 119 - Instructions to subordinate authorities - Income-tax Act, 1961
  31. Rule 12 - Return of income - Income-tax Rules, 1962
  32. Rule 117A - Reduction or waiver of interest payable under section 139 - Income-tax Rules, 1962
  33. Para 3 - Scope of the Scheme - e-Assessment of Income Escaping Assessment Scheme, 2022
  34. Manual - Sanctions for issue of notice u/s 148 &148A - Section 151