133

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Neeraj Sharma

Neeraj Sharma (Querist)
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31 December 2011 dear Sir please explain sec 133

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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31 December 2011 Section 133 is an empowering section. It gives powers to the AO for making an inquiry
in connection with any purpose of this Act.
These powers may be exercised when any assessment proceeding is going on. Inquiry can be made with third parties having any connection with the assessee.
.
Certain restrictions have also been imposed
in cases where proceeding is not going on. In such cases the low ranked authority has to take prior approval of Director or Commissioner.