ITR UNDER SECTION 148 AND SUBSEQUENT DROPPING OF PROCEDURE

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Quick Summary
Discussion on validity of Section 148 reassessment notice for AY 2017-18, alleged time-bar issue under Section 149(1)(b), and whether to file return or file writ petition. Experts suggest responding to notice, completing assessment, and challenging additions/interest in appeal if required.

And get this fiction that the notice is time barred out of your head. The notice is within the permitted grounds for initiating of reassessment proceedings.

Who's the client here ? I'm talking about myself. And FYI, I received the notice on end of march. And it seems you've no clue on the subject, so please stop commenting. 

Whether it's time barred or not, that's not for you to decide. 

If it is for yourself, then save yourself time by going to a CA and let him/her handle this. You are only accumulating more interest liability by sitting on the notices. This an honest advice. I have atleast 2 current appeals going on where client preferred to not handle the reassessment proceedings properly. And one case is almost exactly.like yours and was for fy 2014-15!

You may not like what you are hearing here but then most of the honest advice is like that.

 

Rest is your choice. Hope your matter is resolved to your preferred outcomes.

 

 

Does anyone have any clue on the below or has any past experience: 

2) If I file the ITR and pay tax, can I appeal in CIT, ITAT to reduce the interest after final assesment ? In case of proceeding is dropped due to time barred issue, is the tax that was already paid refunded ?  

Hi Rajib, 

I have not seen the whole contents of your notice which is the basis of this discussion. Whether the proceedings are valid or not, proceedings dropped due to time barred issue etc, the answers to those questions depends on a variety of reasons. 

For filing an appeal with the CIT Appeals, you should have  an assessment order or other appealable orders in hand.  In case you are a non resident, then the process flow will be assessment proceedings- draft order by AO u/s 144C- objections to DRP by you - final assessment order by AO as per directions of DRP- you filing appeal with ITAT for appeal against the said order. 

 

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