My client has recieved notice u/s 148 of The Income Tax Act 1961 for re-assess the income tax AY 2009-10 on 5.3.2014. I would like to know can the ITO do the full aasessment all over again or only the part under u/s 148. (escaped income u/s 147 as shown by them as suspecious dealer). Can he call for proof of other expenses and assets purchased such as bills etc for the AY 2009-10 now.
Notice u/s148 of i tax act 1961
Suresh Jain (Practice Training & Teaching) (1515 Points)
20 August 2014