2017-2018 financial year

This discussion clarifies the procedure for issuing Income Tax notices under Section 148, addressing whether the selection process is automated or manual. It explains that while notices are typically issued within 6 years, this period can be extended to 8 years with special commissioner approval. The discussion also touches upon the reasons for issuing such notices, including non-filing of ITRs, capital goods purchases, or major investments, with exceptions for undisclosed foreign assets.