It Assess every year returns in-time filed.recently sec 148 f.y.15-16 notice from itd .but another sec 147 mentioned in notice.
What sec 148 and sec 147 in it act.
Notice under 148 is issued if any income escaped or did not show in it return.
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Pan.no. a.y.16-17 Dt:31-03-21 din and notice no.
Notice under sec 148 of the it act.
Whereas I have reasons to believe that your income changeable to tax for the asst year 16-17 has escaped asst within the meaning of sec 147 of the it act.
I therefore propose to Assess /re-asses the income /loss for the said asst year and I hereby require you to deliver to me with in 15days from the service of this notice a return in the prescribed from for the said asst year.
This notice is being issued after obtaining the necessary satisfaction of the pr.commissioner of it.
Above details mentioned show in notice.
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