Assessment u/s 147

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CA sudhanshu (Querist)
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28 July 2012 can assessment u/s 147 is initiated while assessment pending u/s 143(3), if assessing officer has reason to believe that income which was escaped assessment

Rahul Gupta

Rahul Gupta (Expert)
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28 July 2012 When the assessment is already pending in Sextion 143(3) The A.o. will assess all the incomes which has escaped assessment in 143(3) itself, There is no question about levying 147 in the above case.

CA sudhanshu

CA sudhanshu (Querist)
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28 July 2012 thanks could u tell me if there is intimation issued from A.O. u/s 143(1) and A.O. issued a notice u/s 148 can that process be challenged by assessee?

Rahul Gupta

Rahul Gupta (Expert)
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28 July 2012 If A.O. has already issued a notice under section 143(1) and if that 143(1) has acquired finality and after some time A.O. comes to know about any escaped assessment then the A.O. could issue a notice under section 148...A.o. would issue a notice under section 148 when the time limit of assessment under section 143(3) has expired.

CA sudhanshu

CA sudhanshu (Querist)
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29 July 2012 is it mandatory to make assessment for any financial year u/s 143(3)in which notice u/s 143(1) is already issued ? or there is option for A.O to make direct assessment u/s 147 if he has reason to believe that income has escaped assessment without completion assessment u/s 143(3).

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