Question And Answer
Subject: Search and Sec, 148
Querist: praksh
Answered by:
Tags: ,
Date: April 13, 2023
Query asked by praksh

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

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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.

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