Please Help: INCOME TAX
Posted Date : 31-Aug-2012 , 04:33:57 pm | Posted By SUSHANT MAHAJAN
I have received a notice u/s 148 of Income Tax Act,1961 with the reasons that I had purchased a property for Rs. 150000 and the notice also requires me to give the source of investment for this purchase to the Income Tax Department.
But contrary to this, my property has been acquired by the state government for Rs 150000.
As the reasons given in the notice are not true, whether the proceedings u/s 148 are valid? If not valid, please tell me some case studies on which, I can fight the case.
But contrary to this, my property has been acquired by the state government for Rs 150000.
As the reasons given in the notice are not true, whether the proceedings u/s 148 are valid? If not valid, please tell me some case studies on which, I can fight the case.
Category : Income Tax | Answers : 1 | Comments : 0 | Hits : 145
Answers
Answer By: Rishabh Upadhyay
Hi Sushant,, little more light on the facts of the case would have helped. However since you have received the notice, you can state the mistake in the notice and reply accordingly.
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