Lawyers who have WORKED in Section 143(2) & 69A of Income tax act

In Tax Law
Hello all, --[[Background]]-->> 1. 2016: A cash deposit in Dec, 2016 was made, in Mumbai. 2. Subsequent follow up was done. 3. The assessment officer is not satisfied with our explanation and has sent a notice under the following sections: Section 143(2), Section 69A of Income tax act 1995. --[[Query]]-->> If you have handled such cases under these sections, or similar, we will like to get in touch with you , FIRST, via email, Regards.

Answers (1)

305 votes
Any communication from the income tax department creates panic for taxpayers. However, Section 143 (1) intimation is not something one needs to worry about.

Income tax department carries out a preliminary assessment of all the returns filed and informs taxpayers of the result of such preliminary assessment. This assessment primarily includes arithmetical errors, internal inconsistencies, tax calculation and verification of tax payment. Such communication to the taxpayer post the preliminary assessment is called intimation under Section 143(1).

Whereas Sec 69 A of Income Tax Act, 1995 is all about

Unexplained money & other valuables -

That means, in any financial year, if the assessee is found to be the owner of any money, bullion, jewellery or other valuable article and such money, bullion, jewellery or valuable article is not recorded in the books of account, maintained by him for any source of income, and the assessee offers no explanation about the nature and source of acquisition of the money, bullion, jewellery or other valuable article, or the explanation offered by him is not, in the opinion of the Assessing Officer, satisfactory, the money and the value of the bullion, jewellery or other valuable article may be deemed to be the income of the assessee for such financial year.

Googling your legal issue online?

The internet is not a lawyer and neither are you.
Talk to a real lawyer about your legal issue.


Popular Tax Lawyers

Advocate Suksham Aggarwal
District and Sessions Court, Ambala
10 years Experience
Advocate Bala Janaki
330 Thambuchetty Street, Chennai
38 years Experience
Advocate Ravi Jadhav
Koregaon Park, Pune
15 years Experience
Advocate Vikash Shangari
City Civil Court, Jamshedpur
16 years Experience

Report abuse?

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at and has been responded by one of the Tax Lawyers at to address the specific facts and details. You may post your specific query based on your facts and details to get a response from one of the Lawyers at or contact a Lawyer of your choice to address your query in detail.

Comments by Users

No Comments! Be the first one to comment.

" has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."