• Notice under section 148 dated 31/03/17 received on 1/4/17

income  chargeble  to  tax   for  year  2010-11  has  escaped   assessment   under  section   147  of  incometax  act. after  sanction  from pr. commissionar   of  I.t.  similar  notice  was  served   on  30/03/16   for   not  showing  two  district  bank  tranzaction.  this  notice   is  for  the  same  reason  and  as   this  account   closed  in  2016. notice  will  be  given   for  six  years  continuously?kindly  give  proper advise.
Asked 7 years ago in Income Tax

Dear Sir,

I am unable to understand you question. Please rephrase it.

Abhishek Dugar
CA, Mumbai
3576 Answers
183 Consultations

4.8 on 5.0

Yes, As per the revised law they can send you notice of last 14 - 15 years if they have details which mismatch with return filed by you.

You need to submit required details and justify your transaction.

Vishrut Rajesh Shah
CA, Ahmedabad
928 Answers
39 Consultations

5.0 on 5.0

Hi,

Request you to contact a good local CA in this regard. You or your CA will have to first visit the officer and file response to the notice within the time specified in the Notice

Pradeep Bhat
CA, Bengaluru
542 Answers
94 Consultations

5.0 on 5.0

Sir

in your question you received 148 notice for AY 2010-2011 . The reason of not showing Bank Account is for sending the notice U/s. 148 and reopening of assessment.

They can give 148 as for AY 2010-11 the last date of notice was 30-03-2016 and was served before that date. So it is a valid notice. You need to give proper answer to the same.

Shyam Sunder Modani
CA, Hyderabad
1408 Answers
164 Consultations

5.0 on 5.0

Sir, Six years limit is no longer there after 01/04/2016. They have extended that period to 15 years.

Vishrut Rajesh Shah
CA, Ahmedabad
928 Answers
39 Consultations

5.0 on 5.0

Hello Sir,

I need to go through the copy of all your notices/ order copy and your replies to them in order to guide with the further course of action. But yes, if the notice is received late then you can very well fight it out.

Regards

Keerthiga Padmanabhan

M.Com., CA, LLB

Keerthiga Padmanabhan
CA, Greater Mumbai
784 Answers
27 Consultations

5.0 on 5.0

Hello Sir,

If the notice received by you is time barred, then you can very well write a letter to your Assessing Officer stating the the notice is time barred and hence invalid.

Trust this clarifies your query.

Feel free to call / get back in case of further clarifications.

Thanking You.

Regards,

Rohit R Sharma

BCOM, ACA, LLB-GEN, CERT. FAFP

Rohit R Sharma
CA, Mumbai
2104 Answers
95 Consultations

5.0 on 5.0

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