Time Limit for issuing notice u/s 143(2)

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Shikha Sharma (Querist)
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03 February 2010 A company has filed its return for P.Y. 2007-08 on 25th Sep 2008 & revised the same on 12th Oct 2008.

Now, the AO has issued notice u/s 143(2) dtd. 19th Jan 2010, for scrutiny assessment.

With regard to the amendment in the section w.e.f 01.04.2008, can the AO issue notice after 30.09.2009 (6 months from the end of financial year in which the return of income is filed)?

Thanks in advance.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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03 February 2010 The quoted amendment is for assessment year 2008-09 and onwards. Therefore, the law prevailing for assessment year 2007-08 has to be necessarily followed to issue the notice. Thus,as per my understanding, AO has issued a valid notice.

Shikha Sharma

Shikha Sharma (Querist)
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04 February 2010 Thank You Sir. But in this case, applicable A.Y. is 2008-09. So is he right in this case.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 February 2010 My answer is wrong since previous year is read as assessment year.

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