Query on Assessment Proc u/s 147

Dear Preeti,

Notice u/s 148 can be issued for any other AY in a case where any assessment is pending in respect of the same assessee.... 

Pls refer the specific section from where u r drawing this conclusion that "Untill a notice already is disposed off 2nd notice shall not be issued"

As per Explanation 3 to section 147 , For the purpose of assessment or reassement under this section , the AO may assess or reassess the income i.r.o any issue, which has escape assessment, and such issue comes to his notice susequently in the course  of the proceedings under this section, notwithstanding that the reasons for such issue have not included in the reasons recorded under 148(2)

So that seprate notice of 148 will not be issued by A.O, if he subsequently finds any escaped income during the course of proceeding

Originally posted by : daya shankar singh
	As per Explanation 3 to section 147 , For the purpose of assessment or reassement under this section , the AO may assess or reassess the income i.r.o any issue, which has escape assessment, and such issue comes to his notice susequently in the course  of the proceedings under this section, notwithstanding that the reasons for such issue have not included in the reasons recorded under 148(2)   So that seprate notice of 148 will not be issued by A.O, if he subsequently finds any escaped income during the course of proceeding

If the escaped income is related only to the same assessment year, there only no notice u/s 148 issued by AO but if this is related to  two different assessment year fresh notice u/s 148 shall be issued by AO even if proceeding is pending u/s 147 of any other assessment year 

Thanks to all. Now i am clear about the topic.

Rgds

Preeti