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Notice under Section 148

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Indira

1401 Points Posted on 31 March 2021

Hi all

Received a notice from Income tax department under Section 148 of Income tax act,1961. Again received under Section 154 of the income tax act, 1961. Are they two different assessments, or Section 154 is continuation of notice under Section 148. Please clarify. They are for same assessment year. Is it possible that they do assessment under Section 154 for a notice under Section 148.

Thanks

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Quick Summary

This discussion clarifies the difference between Income Tax notices issued under Section 148 and Section 154 of the Income Tax Act, 1961. While both can be issued for the same assessment year, Section 148 pertains to the re-assessment of a filed return, whereas Section 154 is a rectification notice related to that re-assessment. Although issued by the Assessing Officer (AO) simultaneously, each notice requires independent compliance.