India - Income Tax Act 2010 - Saarc

1.677 CH. XIV - PROCEDURE FOR ASSESSMENT S. 152relates to an assessment year in respect of which an assessment, reassessmentor recomputation could not have been made at the time the order which was thesubject-matter of the appeal, reference or revision, as the case may be, was madeby reason of any other provision limiting the time within which any action forassessment, reassessment or recomputation may be taken.26[Sanction for issue of notice.151. (1) In a case where an assessment under sub-section (3) of section 143 orsection 147 has been made for the relevant assessment year, no notice shallbe issued under section 148 27 [by an Assessing Officer, who is below the rank ofAssistant Commissioner 28 [or Deputy Commissioner], unless the 29 [Joint] Commissioneris satisfied on the reasons recorded by such Assessing Officer that itis a fit case for the issue of such notice] :Provided that, after the expiry of four years from the end of the relevantassessment year, no such notice shall be issued unless the Chief Commissioneror Commissioner is satisfied, on the reasons recorded by the Assessing Officeraforesaid, that it is a fit case for the issue of such notice.(2) In a case other than a case falling under sub-section (1), no notice shall beissued under section 148 by an Assessing Officer, who is below the rank of29[Joint] Commissioner, after the expiry of four years from the end of the relevantassessment year, unless the 29 [Joint] Commissioner is satisfied, on the reasonsrecorded by such Assessing Officer, that it is a fit case for the issue of such notice.]30[Explanation.—For the removal of doubts, it is hereby declared that the JointCommissioner, the Commissioner or the Chief Commissioner, as the case maybe, being satisfied on the reasons recorded by the Assessing Officer about fitnessof a case for the issue of notice under section 148, need not issue such noticehimself.]Other provisions.152. (1) In an assessment, reassessment or recomputation made under section147, the tax shall be chargeable at the rate or rates at which it would havebeen charged had the income not escaped assessment.(2) Where an assessment is reopened 31 [under section 147], the assessee may, ifhe has not impugned any part of the original assessment order for that year eitherunder sections 246 to 248 or under section 264, claim that the proceedings undersection 147 shall be dropped on his showing that he had been assessed on anamount or to a sum not lower than what he would be rightly liable for even if theincome alleged to have escaped assessment had been taken into account, or theassessment or computation had been properly made :26. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.27. Substituted for “except by an Assessing Officer of the rank of Assistant Commissioner orDeputy Commissioner” by the Finance Act, 1990, w.e.f. 1-4-1990.28. Inserted by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.29. Substituted for “Deputy”, ibid.30. Inserted by the Finance Act, 2008, w.r.e.f. 1-10-1998.31. Substituted for “in circumstances falling under clause (b) of section 147” by the Direct TaxLaws (Amendment) Act, 1987, w.e.f. 1-4-1989.