The notice of demand after completion of assessment as per section 156 of the Income Tax Act, 1961 in respect of tax payable on the income of the transferred asset to be clubbed in the hands of transferor can be served o

CS Executive · Tax Laws · PYQS · December 2021
The notice of demand after completion of assessment as per section 156 of the Income Tax Act, 1961 in respect of tax payable on the income of the transferred asset to be clubbed in the hands of transferor can be served on
(A) Transferor
(B) Transferee
(C) Both (A) and (B)
(D) Neither (A) nor (B)

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Income Tax Act, 1961

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