Notice u/s 148

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RABI SHANKAR SINGH (Querist)

11 March 2015 Notice u/s 148 Is issued against me and i am not respond against it
what kind of action would be taken against me??
thank you

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

12 March 2015 it may lead to int, penalty and prosecution also do not take it lightly.

RABI SHANKAR SINGH

RABI SHANKAR SINGH (Querist)

12 March 2015 first of all sir the notice is issued on 27/01/2015 and time given to me 02/02/2015 and i got the letter after 02/02/2015.
and i want to know that if the charge penalty and interest how can i know it can it will be shown under the head of outstanding liability in me e filling account?
what is the remedy for me?
please reply thank you

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

12 March 2015 Time Limit for Issuing of notice u/s 148: Section 149 provides that notice u/s 148 can be issued within 4 years from the end of relevant assessment year if the income escaped does not exceed one lac Rs. If the income escaped is Rs. one lac or more the notice u/s 148 can be issued within 6 years from the end of relevant assessment year subject to the provisions of section 151. Further first proviso to section 147 provides that if the assessment has been completed u/s 143(3) no action can be taken u/s 147 after the expiry of 4 years from the end of relevant assessment year unless any income chargeable to tax has escaped assessment for such assessment year by reason of the failure on the part of the assessee to make a return under section 139 or in response to a notice issued under sub-section (1) of section 142 or section 148 or to disclose fully and truly all material facts necessary for his assessment, for that assessment year. What to do when notice u/s 148 is received: when a notice u/s 148 is received the assessee is asked to file a return of the relevant assessment year. After filling the return the assessee should ask for the copy of reasons recorded for issue of notice u/s 148 and can file objection to the issuance of notice. The assessee should ask specifically assessing officer to pass a speaking order by disposing off the objections giving reference of the Judgment of Honorable Supreme Court in GKN Driveshafts (India) Ltd vs ITO (2003) 259 ITR 19 (SC). The objections should be filled giving reasons for challenging the legality of the notice u/s 148. All this procedure has been laid down by the Honorable Supreme court in GKN Driveshafts (India) Ltd case. This procedure has been provided by the Honorable Supreme court to enable the assessee to file writ petition before the respective High court challenging the legality of the notice u/s 148 before the assessment is completed. Evan if the assessment order has been passed and the matter is in appeal the assessee can still file writ petition in the high court challenging the legality of notice u/s 148 and the consequent assessment if the above said procedure as laid down by the Supreme court in GKN Driveshafts (India) Ltd case is not followed. But for that assessee off course will have to show that he asked for the copy of reasons for issue of notice u/s 148 and filled objections to that and asked the assessing officer to pass a separate reasoned order disposing off the objections filled and deciding on the legality of the notice issued u/s148.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)

12 March 2015 https://www.caclubindia.com/experts/intrest-and-penalty-2020254.asp#.VQEei3yUdic

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