Scrutiny case for individual

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 December 2014 FOR F.Y.-2011-12 I GOT A SCRUITINY LETTER FROM A.O. THERE I DEPOSIT RS. 10 LAKHS INTO BANK. PLEASE SUGGEST ME HOW TO PRODUCE MYSELF TO THE A.O. AS I HAVE A NEGATIVE CASH BALANCE IN THE BALANCE SHEET AS ON 31/03/12.

Amol S Joglekar

Amol S Joglekar (Expert)
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29 December 2014 cash sales, receipts from debtors, small loans..... nothing is there?

DrSANGITA PHD MBA(usa)CACSCWA

DrSANGITA PHD MBA(usa)CACSCWA (Expert)
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30 December 2014 Most Important part is that How can you get the Scrutiny Notice of FY 2011-12 So late ?
If you really have recd such Notice than its Infractous ( Bad in Law ), You can go & ask the ITO how can such notice be issued Now provided you have filed your Income Tax Return in Proper time. Assuming you have filed a Belated Return then too Last date for FY 2011-12 was 31.03.2014, & you should have recd the Notice latest by 30.09.2014

However what I feel would be that you must have recd Notice u/s 148,or you must have recd it because of Information gathered on basis of AIR filed by Banks or such Institutions, check the Notice properly. If that is the case if you are very good at Income Tax ( If you have only Practical working Knowledge then too dont try on your own ) handle the matter accordingly else consult a Proper Expert its an bit delicate issue in your case now. If you can give more details I can suggest you a proper course of action to begin till you get a Proper Expert to handle your case

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