19 June 2013
Sir, on27/03/2013 the income tax department had issued notice to my mother under section 148 for income chargable to tax for the assement year 2006-07 has escaped within the meaning of section 147 of the income tax act.
In feb.2006 I and my 3 brothers had entered into a joint development agreement with a builder.as my elder brother was expired my mother was included in this agreement with out any share in the builtup area.till now my mother has no property in her name nor any income.the IT dept. has not issued notice to we 3 brothers till now.
please clarify if the notice is issued on us, is it valid after the lapse of 6 yrs.If the notice is issued what should we do.
CAclubindia
