Section 148 of Income-Tax Act, 1961

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HomeBrud.gifIndian LawBrud.gifActsBrud.gifIncome-Tax Act, 1961Brud.gifSection 148 of Income-Tax Act, 1961

Section 148 of Income-Tax Act, 1961 deals with Issue of notice where income has escaped assessment

Contents

From the Act

[(1)] Before making the assessment, reassessment or recomputation under section 147, the Assessing Officer shall serve on the assessee a [[Notice|notice[[ requiring him to furnish within such period, [* * *] 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 :]

[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 under this section, and

(b) subsequently a notice has been served under sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to sub-section (2) of section 143, as it stood immediately before the amendment of said sub-section by the Finance Act, 2002 (20 of 2002) but before the expiry of the time limit for making the assessment, re-assessment or recomputation as specified in sub-section (2) of section 153, every such notice referred to in this clause shall be deemed to be a valid notice:

Provided further 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 under this section, and

(b) subsequently a notice has been served under clause (ii) of sub-section (2) of section 143 after the expiry of twelve months specified in the proviso to clause (ii) of sub-section (2) of section 143, but before the expiry of the time limit for making the assessment, reassessment or recomputation as specified in sub-section (2) of section 153, every such notice referred to in this clause shall be deemed to be a valid notice.]

[Explanation.—For the removal of doubts, it is hereby declared that nothing contained in the first proviso or the second proviso shall apply to any return which has been furnished on or after the 1st day of October, 2005 in response to a notice served under this section.]

[(2) The Assessing Officer shall, before issuing any notice under this section, record his reasons for doing so.]

Related Cases / Recent Cases / Case Laws

  • January 2012: Proviso to section 143(2) applies to a return filed in response to notice issued under section 148 - [2012] 17 LNIN 140 (Allahabad)
  • January 2012: Where Assessing Officer instead of taking approval from Joint Commissioner as per provisions of section 151, obtained approval from Commissioner and issued notice under section 148 said notice was invalid - [2012] 17 LNIN 138 (Delhi)
  • January 2012: Merely because assessee-society was engaged prima facie in banking activities did not disentitle assessing authority from issuing notice under section 147/148 and calling in question taxability of interest income on fixed deposits as 'Income from other sources' - [2012] 17 LNIN 131 (Rajasthan)
  • The Central India Electric Supply Co Ltd vs Income Tax, January 28, 2011: In matters of enhancing compensation where none could contemplate in advance as to what would be the fate of appeal proceedings and final picture emerged only when the Supreme Court pronounced its judgement and on receipt of enhanced compensation, appellant disclosed same in its return, it was unjust to say that assessee had failed to disclose amounts in both returns originally filed (AY 1965-66)
  • Merely on basis of wrong view taken by Assessing Officer in earlier assessment year it cannot be held that the Department is precluded from taking a correct view of matter in subsequent years; [2011] 10 127 (Delhi - ITAT)
  • April 2011: Where Assessing Officer could have found changed address of assessee by looking into his own record, service of notice under section 148 by affixation at address where assessee was not residing was improper - [2011] 10 - 176 (Delhi)

Other related Sections from the Act

  • Section 2: Definitions. Includes meanings of various terms used in the Indian Income Tax Act, 1961

Sections of the Indian Income Tax Act, 1961


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