| Question And Answer | |
|---|---|
| Subject: | Search and Sec, 148 |
| Category: | Income-Tax |
| Querist: | praksh |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | Notice, search |
| Date: | April 13, 2023 |
Search is conducted in the month of March 2023 on Assessee XYZ, where in a diary is found which is cash book for from F.Y. 2011-12 to 2022-23. in the said diary noting about receipt and payment is shown in the name of ABC. On the basis of these noting, Notice U/Sec. 148 is issued in view of provisions of Clause (iv) of Explanation -2 of Sec. 148 for A. Y . 14-15, 16-17 and 2019-20 alleging escarpment of income more than Rs. 50 lakhs each year.
ABC has no connection of what so ever nature with XYZ.
How ABC should respond to the said Notice . pl guide
ABC can file an RTI or even ask the Ld. AO on what basis sanction has been given by the prescribed authority to issue a Notice under section 148 of the Act. The return can be filed in light of the reasons provided for approval of the sanction.