Report No. 12
154. Issue of notice where income has escaped assessment.-
(1) Before making the assessment, reassessment, or re-computation under section 152 [section regarding income escaping assessment], the Income-tax Officer shall serve on the assessee, or, if the assessee is a company, on the principal officer thereof, a notice containing all or any of the requirements which may be included in a notice under section 143(2) [section 22(2)] ; 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.
[Section 34(1), 2nd para., part]
(2) The Income-tax Officer shall, before issuing any notice under this section, record his reasons for doing so.
[Section 34(1), 1st proviso, clause (iii), part]