It is general practice in the Income Tax Department not to attach the reasons for reopening an assessment or for a notice of reassessment u/s 148 of the Income Tax Act. So , the tax payer remains puzzled . One reader veegoyal@………. in this regard asked following question related to reassessment notice
Can assessing officer issue notice u/s 148 on the basis of report of investigation wing. Is reassessment u/s 147 valid despite the fact he has given the reasons of opening case that investigation department has carried out investigation and found that assessee had escaped income. I think in this case assessing officer has no personal or independent reasons and has not applied his own mind. If we do not comply the notice and proceeding then ex-parte assessment will be valid or against us. what should we do?
From the question above , following issues are required to be answered
- One whether an A.O can issue notice for reassessment on the basis of information given by other persons like Audit or Investigation wing or some other source?
- What should be proper course of action for you in case a notice for reassessment is served.