Amendment of section 148

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....an order under clause (d) of section 148A to the effect that it is a fit case to issue a notice under this section."; (ii) in Explanation 1,-- (a) in clause (i), the word "flagged" shall be omitted; (b) for clause (ii), the following clauses shall be substituted, namely:-- "(ii) any audit objection to the effect that the assessment in the case of the assessee for the relevant assessment yea....

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....e 44 seeks to amend section 148 of the Income-tax Act relating to issue of notice where income has escaped assessment. The said section provides for issuance of notice to a person before making the assessment, reassessment or recomputation under section 147 of the Income-tax Act, requiring such person furnish a return of his income or income of any other person in respect of which he is assessabl....

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....ormation in the case of the assessee for the relevant assessment year in accordance with the risk management strategy formulated by the Board from time to time; or (ii) any audit objection to the effect that the assessment in the case of the assessee for the relevant assessment year has not been made in accordance with the provisions of this Act; or (iii) any information received under an agre....