Notice u/s 148 and thereafter u/s 143 (3)

if income escaping assessment is an asset outside India the notice under section 148 could be issued within 16 years from the end of relevant assessment year. so in your case if you do not have any asset outside India then assessment under section 147 cant be made Coz it's time barred.

Thank you Mr Sharma That means if the case is closed u/s 143(3) it cannot be opened again because it is time barred..as i dont have any assets outside India so thr case cannot be opened again.Beacause i have heard that cases u/s 143(3) can be opened again within 4 years.I am still a little confused.Please clarify.

basically section 147 can be invoked by AO if he is satisfied that any income has escaped assessment. 147 require AO to issue notice under section 148. if income escaping assessment is less than 100000 than notice can be issued within 4 years, if the same is more than 100000 than within 6 years from the end of relevant assessment year. However if you comply with the notice even when it is time barred than it would be assumed that it is issued within the time limit prescribed under the act. So yes case closed under section 143(3) could be reopened under section 147 within 4/6/16 years. In your case case it could upto 6 years presuming income escaping assessment is more than 100000.

Thank you Mr Sharma
Yes my case is closed of a y 2010-11 u/s 143 (3)..i got notice in last year all formalities over by nov 2017 & now case is closed.. I think it cannot be opened again as it is time barred and cannot be opened as more than 7years have passes.. Am i rght Mr Sharma?

First of all please stop calling me Mr. Sharma, it sounds like uncle. Now coming to your query, notice could have been issued upto 31/03/17 for ay 2010-11. So yes it can't be reopened now.

Thanks for the prompt reply