Time limit for notice u/s 142(1)

ITR BY A PRIVATE LIMITED COMPANY FILED ON 15/10/14 FOR AY 2014-15 . INCOME TAX DEPARTMENT (ITD) ASSESSED INCOME OF AY 2014-15 U/S 143(10 ON 3/1/15 . ITD HAS NOW ISSUED NOTICE U/S 142(1) ON 3/8/16 . IS THE NOTICE U/S 142(1) TIME BARRED ?
Replies (2)

Hello Manish,

After the plain reading of these Sections we can say that for the puprpose of Scrutiny AO first issues a notice U/s 143(2) with in 6 months from the end of the financial year in which the return is furnished and then for obtainnig further information he issues notice u/s 142(1)(ii) for which no time limit is given. So, the notices given to u are completely valid.

 


 

Hello Saurabh ji,

as you said when AO first issues a notice U/s 143(2) with in 6 months from the end of the financial year then
 the notices given to u are completely valid.

But one thing let me clear when no notice u/s 143 (2) issued (as Mr. Manish said he received 143 (1)) then can above notice u/s 142 (1) considered as valid??

 

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