One of the assesses has been demanded u/s 156 of IT Act for the value of the property sold as per the agreement, which he has not received in his Individual status, but by his partner ship firm, in which he is one of the partner. the Transfer deed/agreement is in the name of the firm.
for the purpose of executing the sale deed he has mentioned his PAN number instead of Firms PAN number, due to which the assessing officer considered as income in his hands though the agreement is in the name of the firm and firm has already filed returns in this regard.
How to go ahead to address the demand notice u/s 156,
FY 2015-16, for which he has not filed any regurn,
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