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Notice U/S 148

Umesh Chandra Prasad (Others) (135 Points)

28 February 2020

My assessee has received notice under section 148 in which the contents of notice is "I have every reason to believe that the income has escaped u/s 147". Please advise us how to proceed further because I have little knowledge about the income escaped.

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8 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 28 February 2020

Check the time limit under both sections.

If it is within the limit ,go and meet the officer.

Submit the documents if any quoted in the notice..

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SOHAN LAL (Manger Accounts & Finance) (363 Points)
Replied 28 February 2020

If you did not file your income tax return for such period, you can file your ITR through compliance tab on income tax website.

Dipesh Jha (PRACTICE ) (673 Points)
Replied 28 February 2020

1st check the time limit as specified u/s 149(1)

If it is within time File Return of income

Then ask for the "Reason to belive" AO is bound to issue reason to belive .If not given or Reason given but if u dont satisfued with the reason provided to you then u can challenge the Notice in the high court through WRIT PETITION

However if u agree with the reason provided by AO thn file ROI and wait for another Notice.They will provide u another notice u/s 143(2) and then compliance with the notice

Umesh Chandra Prasad (Others) (135 Points)
Replied 28 February 2020

Income Tax Return already submitted within due time.

Dipesh Jha (PRACTICE ) (673 Points)
Replied 28 February 2020

U have to file return again as per the notice u/s 148
They are giving u opportunity once again to file Return correct and disclosed all ur income if not disclosed earlier