Direct tax

This query is : Resolved 

20 February 2014 in sun engineering pvt ltd case, AO issued notice u/s 148 for A/Y 2005-06 on 31st january 2012 but assessment order u/s 143(3)already done in 2007, so as per 1st proviso to sec 147 notice under can be issued only upto 4 years if assessment made under 143(3) please explain it

21 February 2014 If the potential tax evasion involved is less than 1 lac, limitation period is 4 years otherwise 6 years. Also try to collect, reason in writing for the same.



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