A notice under section 148 for A.Y. 2013-14 in the case of Jockey Limited where the original assessment was completed u/s 143(3) of the Income Tax Act, 1961 and the escaped income is of or more can be issued before 31.03

CS Executive · Tax Laws · PYQS · December 2020

A notice under section 148 for A.Y. 2013-14 in the case of Jockey Limited where the original assessment was completed u/s 143(3) of the Income Tax Act, 1961 and the escaped income is of or more can be issued before 31.03.2020 by the Assessing Officer only with the approval of

(A) ₹5 lakh or more; Addl. Commissioner of Income Tax

(B) ₹5 lakh or more; Principal Commissioner or Commissioner

(C) ₹1 lakh or more; Principal Commissioner or Commissioner

(D) ₹1 lakh or more; Addl. Commissioner of Income Tax

Answer & Explanation:

Correct Answer: Option (C)

Official answer key: (C).

Topics: Procedure and Assessment

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A notice under section 148 for A.Y. 2013-14 in the case of Jockey Limited where the original assessment was completed u/s 143(3) of the Income Tax Act, 1961 and the escaped income is of or more can be issued before 31.03

Answer & Explanation:

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