Income tax

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YAGNESH HASMUKH DAVE (Querist)
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03 April 2015 I HAVE FILED MY RETURN OF INCOME TAX AY 2008-09 ON 29-09-2008 WHICH IS COMPLETED U/S 143(1) BY DEPT.NOW THE DEPT HAS ISSUED NOTICE U/S 148 DT 26/03/2015 WHICH IS RECIVED BY ME ON 29-03-2015 WHETHER THE SAID NOTICE IS VALID OR NOT PL EXPLAIN

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 April 2015 A notice under section 148 can be issued within six years from the end of the assessment year if amount escaped from assessment is rs 1.00 lac or more.
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AY 2008-09 ends on 31.03.2009. Upto 31.03.2015 the department can issue a notice.
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After 31.03.2015, the department can issue notices in respect of AY 2009-10 or the later AYs.
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