Respected Members,
Tell me whether notice u/s 142(1)(i) can be sent after expiry of one year from the end of relevant Assessment Year for submitting the Return.
Say PY is 2009-10 and AY 2010-11 then whether notice can be sent after 31/03/2012. Give relevant Reasoning .
Dear Suresh AS per section 142(1)(i) if the assessee has not furnished the return of income -
1. with in the time prescribed u/s 139(1) OR
2. before the end pf the relevant assessment year ,
then the assessing officer may issue a notice requiring him to furnish the return of income within the time specified in the notice.
Thus there is no time limit for the issue of notice under section 142(1)(i). The only restriction is that this notice can be issued only after the expiry of due date mentioned in the section 139(1).
Please remember that this section has been amended by Finance act 2006. And after this amendment notice u/s 142(1)(i) can be issued even after the end of the relevant assessment Year.
Further once the notice u/s 142(1)(i) has been issued assessee has to submit the return with in the time limit specified in the notice even if he is not liable to file his return of income u/s 139(1)/139(4A)/139(4B)/139(4C)/139(4D)
However the belated return can be filed u/s 139(4) up to the end of one year from the end of relevant AY and not after that but this only restrict the assessee from filling return after reasonable period of time. but this section dose not restrict AO from issue of notice u/s 142(1)(i) .
Thus Notice u/s 142(1)(i) can be issued even after expiry of one year from the relevant assessment year.
CAclubindia
