Income Tax Blog & Insights

Section 148 of the Income Tax Act empowers the Assessing Officer to issue a notice to a taxpayer when there is information indicating that income chargeable to tax has escaped assessment for a relevant assessment year. However, before issuing such notice, the officer must comply with the procedure laid down under Section 148A of the Income Tax Act, which includes conducting a preliminary inquiry and passing an order under section 148A(3). The notice issued requires t...