| Question And Answer | |
|---|---|
| Subject: | Barred by limitation or not |
| Category: | Income-Tax |
| Querist: | Ajay |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Limitation, Reassessment notice |
| Date: | May 7, 2023 |
The notice us 148 of I.T, Act has been issued on 08.04.22 for the first time for the assessment year 2015-16, as the assessee has deposited more than 50 lakhs during the financial year 2014-15 without issuing notice u/s 148A (b) of the Act. Whether the notice issued is barred by limitation? Is it legal?
If the case in hand is a search case or a search-related case, there is no requirement for issuance of Notice under section 148A(b) of the Act.
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