section 147 of income tax act,1961
abdul rashid dulloo
(Querist) 17 October 2009
This query is : Resolved
While making an assessment or re assessment u/s 147, the Assessing Officer, can not ask information u/s 143(2)so as to make an assessment of the nature of section 143' a regular assessment. In the case of section 147 assessment, the AO should know the amount of income which has escaped the assessment on the basis of information which has come to his notice rather than determining the income as if he is acting u/s 143. Am I right?
Vineet
(Expert) 01 November 2009
No. Section 147 is only an enabling provision to reopen the case and casts a responsibility on AO to record reasons for reopening.
Once a notice u/s 148 has been issued requiring assessee to file return, all the subsequent proceedings are as if the new return has been filed u/s 139. So the AO shall proceed to scrutinise the case u/s 143(2) and pass order u/s 143(3) read with section 147.
The AO has wide authority to examine any other issue which comes to his notice during re-assessment proceedings though the same was not part of reasons recorded by him before reopening the case.
