Other Provisions under Refunds :
In all cases where an assessment or reassessment is completed and any tax, interest, penalty, fine or any other sum is payable by the assessee, the
Assessing Officer shall serve upon the assessee a notice of demand specifying the sum so payable. Though the Act does not prescribe any time limit within which a notice of demand should be served on the assessee the notice of demand must be issued within a reasonable time [Section 156]. Likewise, where the assessment results in a loss and such loss is to be carried forward, the Assessing Officer shall notify to the assessee by an order in writing the amount of such loss computed by him [Section 157]. In cases where a registered firm is assessed or an unregistered firm is assessed under section 183(b) as registered, the Assessing Officer shall notify to the firm, by an order in writing the amount of total income assessed and its apportionment amongst the several partners [Section 158]. The assessee has a right of appeal against any order passed by the Assessing Officer under sections 157 and 158.