22 September 2012
Dear Sir, IM not a CA My Query is as follows plz try to reply us i m not showing my Fixed assets(3 property) from last 5 years in the income tax return and in the current year my company is making a Net profit upto 15lac , so my question is what type of risk in the scrutiny case,and The income tax officer can find my assets record ?
23 September 2012
well .,. in this case you need to be very carefull.. because its not only the assets but also the capital involved to buy the assets is a part of the questions.as it is also not shown in books. but can you tell me the amount involved in it.. if you think its not possible to disclose here than you can drop me message also..
CAclubindia
