154 notice issue by assessing officer

This discussion explores whether a notice under Section 154 of the Income Tax Act can be issued to enhance tax liability after an assessment under Section 143(3) has already been completed. It clarifies that such rectification notices are generally permissible only within four years from the end of the financial year in which the original order was passed. The content also touches upon the grounds for issuing such notices, including objections related to capital enhancements and new loans.