Assessment under section 148

kowsalya (CA ) (668 Points)

11 November 2023  
The assessee has capital gains for which the sale consideration is approx 60l for any 2016-17 but failed to file the income tax return. The show cause notice under section 148 is received in march 2023. is this issue of notice in 2023 valid or time barred? kindly resolve.

Thanks in advance