banner_ad

Section 148 of the income tax act

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 November 2023 The assessee has received the notice under section 148 in March 2023 towards capital gains of Rs.69L and failed to file the income tax return for the AY 2016-17.
Kindly clarify the validity of notice u/s 148 if after taking the indexed cost of acquisition the capital gains amounts to Rs.30 Lakhs(< Rs.50 Lakhs). Is it time barred or not.
Kindly resolve.

Thanks in Advance
Profile Image

CA R SEETHARAMAN

Profile Image

CA R SEETHARAMAN (Expert)
24 November 2023 Yes, it's time barred reply questioning the validity of notice issued with detailed calculation of capital gains.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details