Notices u/s 142(1) and 143(2) of Income Tax
Querist :
Anonymous
(Querist) 10 July 2011
This query is : Resolved
Dear Sir,
On 25.06.2011, I have recived two notice u/s 142(1) and 143(2) of Income Tax along with questionare seeking all the details for the financial year 2008-09 (Assessment year 2009-2010). I had filed my income tax return for the said year on 29.07.2009. Now my question are below :
1) Aren't the notices time barred?
2) If I go and take the plea of time barred, can they issue me notice u/s 147 and 148 of Income Tax?
3) What should I do? If I go and co-operate, notice will be presumed valid u/s Section 292BB of Income Tax. If I take the said plea, they will issue notice u/s 147 and 148.
Kindly guide me as what needs to be done in these circumstances.
A V Vishal
(Expert) 10 July 2011
The notices u/s.142(1) & 143(2) are time barred, since the A.O needs to issue the notices on or before 30.09.2010. However, he has right to issue notice u/s.147. For the first notice you may claim that the notice are null and void as they are barred under limitation. However, be prepared to receive the notice u/s.147. You have to take chances.
Advocate Rajkumarlaxman
(Expert) 11 July 2011
Do not reply the notices. Neglect the notices as the same are time barred. but be prepared for further as said by A V VIShal
Querist :
Anonymous
(Querist) 11 July 2011
My question is that if the AO has sent the said notices on some information, can the same information be the basis of issuing notice u/s 147 of IT?
A V Vishal
(Expert) 11 July 2011
Yes,the same information be the basis of issuing notice u/s 147
soumitra basu
(Expert) 15 July 2011
My suggestion:
1. Do not co-operative with the department.
2. Allow the department to finalise the assessment. Prefer appeal and challenge the notice there.
3. If you prefer appeal, the AO cannot re-open the case which has finally settled by the appellate authority.
4. If notice under section 148 is issued, you shall have the liberty to ask for the information for re-opening and challenge the same.
