Notice under section 142(1) of the Income Tax act is issued by a tax authority generally after ITR is filed and before Income tax assessment in the form of Inquiry.
Generally during the course of Assessment the Assessing officer sends the notice for demanding documents , books ,other documents or details for verifications and the Assessee is bound to produce details before assessing authority.
In case of Non- filing of Income tax return also Notice under section 142(1) is received and thereunder time frame is given to file ITR .
PENALTY
In case of non compliance the AO has to power to levy penalty of Rs. 10000/- for each failure under section 271(b)
PROSECUTION
Prosecution under section 276D for non compliance of section 142(10 is imprisonment upto 1 year with or without fine
NOTICE UNDER SECTION 143(2)
Notice under section 143(2) is issued to Assessee when case is taken under scrutiny by Income tax authority.
When notice under section 143(2) is issued and also Notice Under section 142(1) is issued to Assessee , informations as required time to time by assessing authority is submitted to Assessing authority who based on information submitted assess the case and issues final order for assessment.