Please Help: Income Tax assessment
Posted Date : 04-Jun-2011 , 04:15:58 am | Posted By sanjay labh
assessee file his income tax return u/s44AF. I want to know AO can ask for cash book from the assessee for assessment u/s 143(3, if not then u give me few proof
Category : Income Tax | Answers : 3 | Comments : 4 | Hits : 445
Answers
Answer By: Madhu Kiran
Please complete your question
Answer By: CA VIKAS JAIN
yes he can deemand copy of bank a/c.
Answer By: CA. Sachin Data
yes, AO can
Comments
CA VIKAS JAIN
05-Jun-2011 , 12:15:31 amdear sanjay, AO can deemand the bank a/c or cash book from assessee to varify the gross turnover of the business is within the limit prescribed for applicability of sec 44AF. suppose during the current year there has been price hike of 10% in selling price of goods in camparision to last year and AO has beleived that the turnover should cross the prescribed limit then he can ask the copy of bank a/c or your kuccha cash book.
CA. Sachin Data
06-Jun-2011 , 06:26:30 amyes, AO can
Manish
09-Jun-2011 , 12:57:07 amyes, if ITO thinks as books are required than he ask for books, i.e. cash book, bank book etc.
CA Anup Moondra
14-Jun-2011 , 07:03:17 amYes, if AO thik , He call for Cash and Bank Book.