Dear Experts,
I have one query regarding issuance of notice under section 148. I am having taxable income for AY 2009-2010 amounting 2 lacs in India only but has not filed ITR. Now A.O. has issued notice under section 148. Is this notice valid or will it be time bared? Thanks in advance....
A notice for AY 2009-10 issued in 2021 is significantly beyond the traditional 6-year limitation period. While the Supreme Court allowed some notices issued post-April 2021 to be treated as valid under the new Section 148A process, such action is subject to strict conditions, including the requirement that the Assessing Officer must have evidence of escaped income (often linked to assets for older years). Please consult a qualified tax professional to review your specific notice and file a formal response.
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