Question ID : 41026

NOTICE U/S 148

X an assess received notice u/s 148 for Ay 2013-14, for a house property purchased in FY 2012-13. Actually, the price of the flat was well paid during FY 2009-10 to 2011-12. Only registration amount was tendered in FY 2012-13. My query is whether to furnish the details of payment made before FY 2012-13. Is this mandatory on the part of asseee to furnish bank transaction beyond the FY covered u/s 148. Or do we need to furnish the registration/ stamp paper cost paid during fy 2012-13 through our bank passbook.

Answer ID : 81060

plz ask for reason for the notice issuance . furnish year wise cost paid towards HP and also the source of income for purchase .

Answer ID : 81061

In response to the notice u/s 148, the assessee can challenge the validity of the notice or file return of income in response of the notice. Requirement or opportunity to submit documents would arise when notice was issued under other sections.

Answer ID : 81094

What is the reason for issuance of notice?

Answer ID : 81099

Answer id 81061 seems the correct course of action. Inference :- G.K.N. Driveshafts (India) Ltd. Vs. ITO (2003) 259 ITR 19 (SC)

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