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Notice u/s 148

Jay Agarwal ( CA Final) (207 Points)

16 May 2016

Hi...i have received notice u/s 148 for financial year 2008-09 on 31/03/2016. I ask them for reasons...now officer issue notice u/s 143(2) and 142(1) for f/y 2008-09 on 10/05/2016 ...will this notice is valid in law..kindly help

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renuka (Student) (480 Points)
Replied 16 May 2016

What is the escaped amount as per 148 notice? If it is below 1 lac, then notice shall not be valid as 4 years have elapsed from A/Y 09-10. Otherwise, it shall be valid as notice has been served within 6 years.

As stated in the 148 notice you will be required to furnish the return for a/y 09-10. But notice u/s 143(2) will not be valid, provided return was filed on time as time limit is 6 months from end of F/Y. 142(1) notice is also not valid as 3 years have elapsed from p/y of which books are sought to be produced.