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of <h1>New Rule: Assessing Officers Must Hear Assessees Before Issuing Section 148 Notice, Effective September 2024</h1> From September 1, 2024, before issuing a notice under Section 148, the Assessing Officer must provide the assessee an opportunity to be heard by serving a notice to show cause, accompanied by information suggesting that income has escaped assessment. The assessee can respond within a specified period. Based on the available material and the assessee's reply, the Assessing Officer, with prior approval from the specified authority, decides on issuing a notice under Section 148. Exceptions apply if information is received under a scheme notified under Section 135A. 'Specified authority' includes certain officials, and information sources include audit objections, agreements, and surveys.
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