SECTION

Section 16A — , serve on such person a notice requiring him to furnish within such period, 1*** as may be

From: The Gift-tax Act, 1958

section 16A, serve on such person a notice requiring him to furnish within such period, 1*** as may be specified in the notice, a return in the prescribed form and verified in the prescribed manner, setting forth the ta xable gifts made by him or by such other person during the previous year mentioned in the notice, in respect of which he is assessable, along with such other particulars as may be required by the notice, and may proceed to assess or re -assess such gifts an d also any other taxable gifts in respect of which such person is assessable, which have escaped assessment and which come to his notice subsequently in the course of the proceedings under this section for the assessment year concerned (hereafter in this s ection referred to as the relevant assessment year); and the provisions of this Act shall, so far as may be, apply as if the return were a return required under section 13 : Provided that where an assessment under sub -section ( 3) of section 15 or this sect ion has been made for the relevant assessment year, no action shall be taken under this section after the expiry of four years from the end of the relevant assessment year, unless any taxable gift chargeable to tax has escaped assessment for such assessmen t year by reason of the failure on the part of the assessee to make a return under section 13 or section 14 or in response to a notice issued under sub -section ( 4) of section 15 or this section or to disclose fully and truly all material facts necessary fo r his assessment for that assessment year : 2[Provided further that the Assessing Officer shall, before issuing any notice under this sub -section, record his reasons for doing so.] Explanation .-Production before the Assessing Officer of account books or ot her evidence from which material evidence could with due diligence have been discovered by the Assessing Officer will not necessarily amount to disclosure within the meaning of the foregoing proviso.

(1A)No notice under sub -section ( 1) shall be issued for the relevant assessment year, -

(a)in a case where an assessment under sub -section ( 3) of section 15 or sub -section ( 1) of this section has been made for such assessment year, -

(i)if four years have elapsed from the end of the relevant assessment year, unless the case falls under sub -clause ( ii) or sub -clause ( iii);

(ii)if four years, but not more than seven years, have elapsed from the end of the relevant assessment year, unless th e value of taxable gifts chargeable to tax which have escaped assessment amounts to or is likely to amount to rupees fifty thousand or more for that year;

(iii)if seven years, but not more than ten years, have elapsed from the end of the relevant assessm ent year, unless the value of taxable gifts chargeable to tax which have escaped assessment amounts to or is likely to amount to rupees one lakh or more for that year;

(b)in any other case, -

(i)if four years have elapsed from the end of the relevant as sessment year, unless the case falls under sub -clause ( ii) or sub -clause ( iii) ;

(ii)if four years, but not more than seven years, have elapsed from the end of the relevant assessment year, unless the value of taxable gifts chargeable to tax which have e scaped assessment amounts to or is likely to amount to rupees twenty -five thousand or more for that year ;