https://www.taxtmi.com/acts?id=50679 Section 147 empowers the Assessing Officer to assess, reassess or recompute income and allowances where, for reasons recorded in writing, he is of the opinion that income escaping assessment has occurred, subject to a general four year limitation except where escape results from failure to file a return, failure to respond to specified notices, or failure to fully and truly disclose material facts; specified deemed cases of escaped income are listed. Section 148 requires service of a notice giving the assessee a minimum thirty days to furnish a return in prescribed form and manner before any action under section 147. en-us Mon, 14 Apr 2025 18:00:46 +0530 Mon, 14 Apr 2025 18:00:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50679 Section 147 empowers the Assessing Officer to assess, reassess or recompute income and allowances where, for reasons recorded in writing, he is of the opinion that income escaping assessment has occurred, subject to a general four year limitation except where escape results from failure to file a return, failure to respond to specified notices, or failure to fully and truly disclose material facts; specified deemed cases of escaped income are listed. Section 148 requires service of a notice giving the assessee a minimum thirty days to furnish a return in prescribed form and manner before any action under section 147. Act-Rules F. Acts / Amendment Acts Mon, 14 Apr 2025 18:00:46 +0530 https://www.taxtmi.com/acts?id=50679