Section 148 - Issue of notice where income has escaped assessment

Assessing Officer must issue Section 148 notice before reassessment when income escapes assessment requiring return submission

Section 148 of the Income Tax Act establishes procedures for issuing notices when income has escaped assessment. Before conducting reassessment under Section 147, the Assessing Officer must issue notice to the assessee requiring income return submission within three months, subject to Section 148A provisions. Notice issuance requires information suggesting escaped income assessment and may need specified authority approval, particularly for information received under Section 135A schemes. The provision defines six categories of information constituting escaped assessment grounds, including risk management strategy data, audit objections, international agreements, court orders, and survey findings. Returns must follow prescribed formats and verification procedures similar to Section 139 requirements.