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ASSESSMENT U/S 153A

Sowmya P K (Chartered Accountant) (251 Points)

17 September 2010

Hello

This is wrt to assessment u/s 153A.

The notice to be issued is under which section?? Also, what is the time limit for such issue?

Thanks in advance

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8 Replies

CA ravi kisore (Assistant Manager Finance) (54 Points)
Replied 18 September 2010

this is with reference to assessment of search cases under section 153A. Notice is issued to furnish return of income in respect of six assessment years preeceding the year in which the search was conducted under section 132/132A. Example search was conducted on june 20 2009 AO can issue notice in respect of AY's 2004-05 to 2009-10. There is no time limit specified in the section with in which the notice should be issued.

Sowmya P K (Chartered Accountant) (251 Points)
Replied 21 September 2010

ok... but notice is issued under which section??? 153A talks of assessment rite...

CA ravi kisore (Assistant Manager Finance) (54 Points)
Replied 21 September 2010

sec 153A doesnt speaks specifically to issue a notice under a particular section but it mentions that these search provisions doesnt apply to section 139,147,148,151 and 153. So notice cannot be issued under section 139 or 148 but dint excluded 142(1). so notice can be issued under section 142(1) i think so, pls let me know da answer and wait for experts feedback

Sowmya P K (Chartered Accountant) (251 Points)
Replied 22 September 2010

142(1) is only in case where return is not filied within due date AO can ask assessee to file a return...

CA ravi kisore (Assistant Manager Finance) (54 Points)
Replied 24 September 2010

Notice is issued to file return of income under section 153A where returns have not been filed by the assessee's in search cases

Sahil (Article ) (24 Points)
Replied 11 December 2010

Kindly send me the details of section 153A .

Jimshad P (Student) (76 Points)
Replied 31 December 2013

Whether Income Tax return can be revised on the period between from the search made in assessee premises to notice issued u/s 153A of the Income Tax Act....

S K BANSAL (PROP) (24 Points)
Replied 19 April 2015

Please mention the section under which return is to be filed in respect of the previous year in which search took place. For example, search was conducted in january 2011, under which section the return for A.Y. 2011-12 is to be filed?

Thanks!

S.K. bansal CA