Issue of notice where income has escaped assessment
Issue of notice where income has escaped assessment.
148. (1) Before making the assessment or reassessment or recomputation under section 147, the Income-tax Officer shall serve on the assessee a notice containing all or any of the requirements which may be included in a notice under sub-section (2) of section 139 ; and the provisions of this Act shall, so far as may be, apply accordingly as if the notice were a notice issued under that sub-section.
(2) The Income-tax Officer shall, before issuing any notice under this section, record his reasons for doing so.
[As amended by the Finance Act, 1978]