Query regarding assessment
This query is : Resolved
07 October 2013
can subsequent decisions of supreme court form the basis of issuing notice under sec 148 if assessment even if earlier assessment took place under sec 143(3) or 147 and assessee nade full and true disclosure?
kindly help
08 October 2013
Notice u/s 148 (for Re-assessments) can be issued in the cases where AO (Not below to the rank of ACIT/DCIT) strongly believed that such assessment is escaped assessment and have valid proof for such escapement of tax. Such notice can be issued only with the tenure of 4 years from the end of relevant Assessment year.
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