Section 150 of ITA, 1961 : Section 150: Provision For Cases Where Assessment Is In Pursuance Of An Order On Appeal, Etc

Explanation using Example

Imagine a business owner, Mr. Sharma, who filed his income tax return for the year 2018-19. Later on, he was audited and additional income was discovered. He appealed against the audit's findings, and the appellate authority directed a specific adjustment to his income. Despite the usual time limits for issuing notices under Section 149 having passed, under Section 150(1) of the Income-tax Act, 1961,...

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