ANIL KUMAR KHETAN (PROPRIETOR) (542 Points)
20 July 2024
Chandrashekar M
(18 Points)
Replied 16 August 2024
A notice issued under Section 148 of the Income Tax Act, 1961, is typically valid if it meets certain conditions. However, the validity of the notice in your case depends on specific circumstances.
Section 148 allows the Assessing Officer (AO) to issue a notice if they believe you have concealed income or made an incorrect statement. Since the concealed income is below ₹50,000, the AO must have a valid reason to issue the notice.
To determine the notice's validity, consider the following:
1. Reason to believe: The AO must have a valid reason to believe you concealed income or made an incorrect statement. This reason should be mentioned in the notice.
2. Time limit: The notice should be issued within the prescribed time limit. For assessments related to FY 2020-21 or later, the notice can be issued up to 3 years from the end of the relevant assessment year.
3. Proper service: The notice should be properly served on you, either by post, email, or in-person.
4. Correct procedure: The AO should follow the correct procedure while issuing the notice.
If the notice meets these conditions, it is likely valid. However, you can still respond to the notice and provide explanations or evidence to support your case.
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