Notice of Demand - Section 156

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..... so payable. 2. Where any sum is determined to be payable by the assessee or the deductor u/s 143(1) or section 200A , the intimation under those sub-sections shall be deemed to be notice of demand for the purpose of section 156. 3. Where the income of the assessee of any assessment year, beginning on or after the 01.04.2021, includes income of the n .....

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..... im such specified security or sweat equity share, whichever is the earliest. Section 156 provides for a vital step to be taken by the Assessing Officer without which the assessee cannot be termed as defaulter. The use of the term shall in section 156 implies that service of the notice of demand is mandatory before initiating recovery proceedings and const .....

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