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Client received notice u/s 148 ?

Tax queries 612 views 10 replies

my client has received notice u/s 148 (within meaning of section 147) for A. Y 2009-10 on 31/03/2016. is these notice time barred? if not what procedure to be followed as he is salaried employee and has filed all return till today on time.

Replies (10)

This issue was noticed in many cases this year .

Well the notice is valid within the meaning of Section 147 , since the A.O has 6 years from the end of relevant A.Y. To reopen the case if the income escaping assessment according to his reasons recorded exceeds Rs. 1,00,000/- and provided no assessment or reassessment has been carried out earlier in the assessee's case.

client was having loss in equity mkt for a.y 2009-10 which he has not disclosed in return
loss was around RS 175000. Now what procedure to be followed for reply to the notice received

You have to file return of income for that A.Y. In response to notice u/s 148 and then file objection to reopening of the same and ask for reasons recorded for reopening the same ..!

 

client has filed return with salary income in June 2009 now again he has to file return for a.y 2009-10?

Yes, you have to file ROI in response to notice u's 148,

Are you unaware of provisions of the Income Tax Act in this regard?

 

FILE INCOME TAX RETURN IN RESPONSE TO THE NOTICE U/S 148 AND THEN ASK FOR THE REASONABLE CAUSES FROM A.O.

FILE INCOME TAX RETURN IN RESPONSE TO THE NOTICE U/S 148 AND THEN ASK FOR THE REASONABLE CAUSES FROM A.O.

Thank you Aakashbhai & Sunilbhai for ur response

Yes anytime:)

but do consult the local knowledgeable CA while filing the ROI as the cases selected u/s 147 are quite crucial .


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