Issue of notice where fringe benefits have escaped
115WH. (1) Before making the assessment
or reassessment under section 115WG, the
Assessing Officer shall serve on the assessee a notice requiring him to furnish
within such period as may be specified in the notice, a return of the fringe
benefits in respect of which he is assessable under this Chapter during the
previous year corresponding to the relevant assessment year, in the prescribed
form and verified in the prescribed manner and setting forth such other
particulars as may be prescribed, and the provisions of this Chapter shall, so
far as may be, apply accordingly as if such return were a return required to be
furnished under section 115WD.
(2) The Assessing Officer shall, before issuing any notice
under this section, record his reasons for doing so.
(3) No notice under sub-section (1) shall be issued for the
relevant assessment year after the expiry of six years from the end of the
relevant assessment year.
Explanation.—In determining fringe benefits
chargeable to tax which have escaped assessment for the purposes of this
sub-section, the provisions of the Explanation to section 115WG shall apply as they apply for the
purposes of that section.
(4) In a case where an assessment under sub-section (3) of section 115WE or section
115WG has been made for the relevant assessment year, no notice shall be
issued under sub-section (1) by an Assessing Officer, after the expiry of four
years from the end of the relevant assessment year, unless the Chief
Commissioner or Commissioner is satisfied, on the reasons recorded by the
Assessing Officer, that it is a fit case for the issue of such notice.