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TMI BlogSubstitution of new sections for sections 148 and 148A.X X X X Extracts X X X X X X X X Extracts X X X X ..... he notice, not exceeding three months from the end of the month in which such notice is issued, a return of his income or income of any other person in respect of whom he is assessable under this Act during the previous year corresponding to the relevant assessment year: Provided that no notice under this section shall be issued unless there is information with the Assessing Officer which suggests that the income chargeable to tax has escaped assessment in the case of the assessee for the relevant assessment year: Provided further that where the Assessing Officer has received information under section 135A, no notice under this section shall be issued without prior approval of the specified authority. (2) The return of income required under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or after the 1st day of September, 2024. Procedure before issuance of notice under section 148. 148A. (1) Where the Assessing Officer has information which suggests that income chargeable to tax has escaped assessment in the case of an assessee for the relevant assessment year, he shall, before issuing any notice under section 148 provide an opportunity of being heard to such assessee by serving upon him a notice to show cause as to why a notice under section 148 should not be issued in his case and such notice to show cause shall be accompanied by the information which suggests that income chargeable to tax has escaped assessment in his case for the relevant assessment year. (2) On receipt of the notice under sub-section (1), the assessee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issue a notice to the assessee, along with a copy of the order passed under sub-section (3) of section 148A requiring him to furnish within such period as may be specified, not exceeding a period of three months from the end of the month in which such notice is issued, a return of his income or the income of any other person in respect of whom he is assessable under this Act. It further provides that the return of income required to be furnished under sub-section (1) shall be furnished in the such form and verified in such manner and setting forth such other particulars as may be provided by rules, and the provisions of this Act shall apply accordingly as if such return were a return required to be furnished under section 139. It is also pr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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