i want to know if AO issued the notice u/s 148, for the AY 2005-06 then is it possible for him to take the case also for the last 3-4 years ans also tell me that if assessee have a refund in his ITR of AY 2006-2007, whether the AO can refuse to give it on the basis of AY 2005-2006 case.
26 February 2008
he can demand the information for 3 years by notice u/s 142 (1). and for re-opening of cases of previous years he has to issue separate notices. he can't issue refund on the basis of this ass.
26 February 2008
AS PER SECTION 142 ASSESSING OFFICER CAN DRAW THE INFORMATION AND EXPLANATION IN REGARD TO ASSETS AND LIABILITY FOR 3 YEARS.FOR THE REOPENING OF CASES OF PREVIOUS YEAR ASSESSING OFFICER IS REQD TO ISSUE SEPERATE NOTICES FOR EACH YEAR .
CAclubindia
