Important query survey u/s 133a
This query is : Resolved
18 November 2013
Q1. Statement on Oath of the Assessee taken by the Assessing Officer after conducting Survey u/s 133A at his office; Whether a certified copy thereof could be taken by the assessee for his own records.
Q2. Assessee filed its IT return u/s 44AD for Asstt. Year 12-13 & 13-14. An income tax survey u/s 133A conducted in the business premises of the assessee during a/c yr 13-14 corresponding to Asst. yr-14-15. Books of A/c for the current year i.e a/c yr-13-14 as well as for the a/c year 11-12 & 12-13 has also been impounded by the A.O.
Whether he is correct in doing so when the assessee has filed its IT return for the A/c yr 11-12 & 12-13 u/s 44AD. Also whether books of a/c for a/c year 11-12 & 12-13 could be taken back even the A.O has taken permission from higher authorities for retention of books.??
Q2. Assessee filed its IT return u/s 44AD for Asstt. Year 12-13 & 13-14. An income tax survey u/s 133A conducted in the business premises of the assessee during a/c yr 13-14 corresponding to Asst. yr-14-15. Books of A/c for the current year i.e a/c yr-13-14 as well as for the a/c year 11-12 & 12-13 has also been impounded by the A.O.
Whether he is correct in doing so when the assessee has filed its IT return for the A/c yr 11-12 & 12-13 u/s 44AD. Also whether books of a/c for a/c year 11-12 & 12-13 could be taken back even the A.O has taken permission from higher authorities for retention of books.??
19 November 2013
1. yes he is entitled to have a copy of the statement:
Refer:
Ambalal vs. Union of India (1983)13 ELT 1321 (SC)
2. Dear Anshul, if you have maintained books of accounts, and such books are found during the survey, it is the discretion on how to look at it. there is no bar just becuase you filed return udner 44AD.
Refer:
Ambalal vs. Union of India (1983)13 ELT 1321 (SC)
2. Dear Anshul, if you have maintained books of accounts, and such books are found during the survey, it is the discretion on how to look at it. there is no bar just becuase you filed return udner 44AD.
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