LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Rajan Singh (Manager)     10 July 2014

Question on notice u/s 142(1)

Hi Sir, A notice under section 142(1) in connection with the assessment for the A.Y. year 2010-11 served on 12.6.2014. There is para what does that mean can you please help us to understand what documents i need to carry to income tax office in this regard. (a) Prepare a true and correct return of your income/the firm's income/family's income /the local authority's income/the company's income/income of the A.O.P/income of the body of individuals/income of the respect of which you are assessable under the income tax act 1961 during the previous tear relevant to the assessment year mentioned above. Also, is this notice valid. Rgds


Learning

 3 Replies

Rachna Sanyal (Senior)     11 July 2014

Sir Before Getting this Notice you must have Recd a Notice u/s 147 / 148. Check with your client if this Case pertains to your Client. & If its your Own case  or your Clents case whatever it is & if No such Notice u/s 147 / 148  is recd  for Reopening of the assessment, then Notice issued u/s 142 after Lapse of 12 Months from the Last date of the Month in which the Return is Filed will not have Validity. 

dr g balakrishnan (advocate/counsel supreme court)     27 July 2014

initially examine, whether that Notice is legally right, like Rachna Sanyal said. if the Notice is issued after expiry of 12 months (6 months) from the date of filing your return and the date stamped on your return copy by taxman... if the notice does not satisfy that limitation clause naturally the Notice is invalid per tax law 1961 IT Act.

once satisfied with that teat you seek other opinion on documents, after all whatever documents you relied on to file your returns of income need to be substantiated that is all! 

dr g balakrishnan (advocate/counsel supreme court)     27 July 2014

Problem is AOs are pressured to collect more taxes legitimately is the principle, certainly not illegitimately that one needs to understand.

 

there mighty be any other obvious reasons that need to be duly countered by assesses ! that way you will be a good citizen. Never encourage any kind of corruption is my view!


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register