KAIT Act 41अध्याय VII · Procedure for Assessment

धारा 41 · Income escaping assessment

(1)

If for any reason agricultural income chargeable to tax under this Act has escaped assessment in any financial year or has been assessed at too Iowa rate, the Agricultural Income tax Officer may at any time within ten years of the end of that year and subject to the provision of sub-section (2), serve on the person liable to pay the tax. a notice containing all or any of the requirements which may be included in a notice under sub-section (2) of section 35 and may proceed to assess or reassess such income and the provisions of this Act, shall, so far as may be apply accordingly as if the notice were a notice issued under that sub-section:Provided that the tax shall be charged at the rate at which it would have been charged if such income had not escaped assessment or full assessment, as the case may be:Provided further that the Agricultural Income tax Officer shall not issue notice under this sub-section unless he had recorded his reasons for doing so.

(2)

No notice shall be issued under sub-section (1) after the expiry of six years from the end of the relevant financial year unless the Commissioner is satisfied on the reasons recorded by the Agricultural Income tax Officer that it is a fit case for issue of such notice.

(3)

Notwithstanding anything contained in sub-section (1), a notice under that sub-section may be issued at any time for the purpose of making an assessment or re-assessment or recomputation in consequence of, or to give effect to any finding or direction contained in, an order passed by any authority in any proceeding under this Act by way of appeal or revision or an order or decision of any court.Explanation I: - Where by an order referred to in sub-section (3), any agricultural income is excluded from the total agricultural income of the assessee for an assessment year then, an assessment of such agricultural income for another assessment year shall, for the purpose of the said sub-section, be deemed to be one made in consequence of or to give effect to any finding or direction contained in such order.Explanation II: - Where by an order referred to in sub-section (3), the agricultural income is excluded from the total agricultural income of one person and held to be the agricultural income of the another person or persons then, an assessment of such agricultural income of such another person or persons shall, for the purpose of this subsection be deemed to be one made in consequence of or to give effect to any finding or direction contained in such order.

(4)

In computing the period of limitation for the purpose of this section, any period during which the assessment proceeding is stayed by an order or injunction of any court or other authority shall be excluded.

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