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Notice u/s 148 of the income tax

URVI (TAX CUNSULTANT) (214 Points)

24 March 2018

i received notice u/s 148... for assessment Year 2011-12 ...please clarify about this section... and how can i solve it??

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6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (166355 Points)
Replied 24 March 2018

1. income-escaping-assessment or section-148

2. Tutorials/-various-assessments

3. https://www.caclubindia.com/articles/procedure-of-re-assessment-u-s-147--24208.asp

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ajeet singh (1392 Points)
Replied 24 March 2018

most probably there was a cash transaction in relevent year and u have not filed return or as return ed amt. is comparatively very low than transected amt.
u/s 148 complete assessment will be
done.

1 Like

Rohan Bagra (91 Points)
Replied 25 March 2018

notice u/s 148 is issued for section 147 which is about income escaping assessment.

1 Like

URVI (TAX CUNSULTANT) (214 Points)
Replied 26 March 2018

thank you so much sir

Sarita Borgaonkar (2 Points)
Replied 12 March 2019

My grandfather he was 91 year old and he received income tax notice under section 148 because some cash transactions in their account and he doesn't no to file returns for the year 2011-12

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Anil Kotak (student) (309 Points)
Replied 12 March 2019

You have to respond to the notice, if its not time barred. Contact some tax consultant to prepare financial statements, if you are liable to respond as per act.

6 Like