LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

Can ao ask information relating to other ay.

Sri Bhargavi (Chartered Accountant) (68 Points)

13 June 2016

Can Assessing officer ask information relating to Assessment year other than the Assessment year under scrutiny u/s 143(2) ?

Reply
Follow
Share

4 Replies

CA MANISH BINDAL (CHARTERED ACCOUNTANT ) (535 Points)
Replied 13 June 2016

Assessing officer can ask for previous year figures, but cannot do detail varification of figures like sales purchase expenses income assets of A.Y other than the A.Y for which the notice u/s 143(2) is served.

CA ABHAY GUPTA (Practice) (3230 Points)
Replied 13 June 2016

assessing officer can only demand information pertaining to transactions took place in the financial year whose notice was served upon the assessee...for eg he cannot demand the bank statements or itr for opening balance of unsecured loan or cannot added these transactions as they were assessed earlier...

NV KIRANKUMAR REDDY (student) (123 Points)
Replied 14 June 2016

for the previous years he can issue 142(1). He can complete the assessment 142(1) rws 143(3).

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 14 June 2016

if the AO has doubts about the opening figures of Assets and Liabilities (mostly debtors and crediters) of present year, then he may seek the information of tranaction details about these accounts, for co-relation and verification.