Notice under section 143(2)

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Querist : Anonymous

Querist : Anonymous (Querist)

09 September 2010 Sirs,

I recd a notice in Aug 10 under section 143(2) for return filed in July 2009. I attenended the ACT's office. I was advised that my case is under scrutiny and shall recv fresh notice with questionare in Jan / Feb till then my case is adjourned.

Pls advise me what I should do and what will they ask me in questionare. Do I need to take some expert help. I was not told the reason for my case being under scrutiny.

SANJAY TALATI

SANJAY TALATI (Expert)
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09 September 2010 Generally no AO gives the reason for the case selected under scrutiny. There is a departmental guidelines for the case to be selected as a scrutiny.

A detailed questionary will be issued in due course of time asking to furnish the details of GP/NP, the additions made in the assets and the depreciation claimed thereon, the details of exempted income and the disallowance to be made u/s 14A and other details regarding the deductions/exemptions claimed by u.

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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09 September 2010 Exactly same notice was recd by me for our company, I am just reproducing the questions asked in it :

Sub: - Scrutiny proceeding u,/s 143{2) of the I.T. Act, 1961, in voui
casef or the Asstt, Yeai-2007-08-r eg-

Please refer to the above subject and to the ongoing proceedhgs in this
regard. You are required to furnish the following information/details/evidence in
support of the accounts filed/income declared in the retuln of income filed with this office for the above said A.y. on 2o - l.o -2",o9

1. Evidence of addition/ deletion to assets.
2. The complete detail of scip wise oI investment with opening balance,
purchased during the year, sold during the year and the closing balan-ce.
The amount of profit earned ciue to sale of investment is to be filed. Also
the complete details of shares traded as investment for which dividend
was earned is to be filed with the date of purchase, sale and date of
declaration oI dividend.
3. Name/addresses of the debtors/creditors outstanding at the beginning &
end of the year-justification for outstanding more than one year.
4. Details of all the banl< accounts maintained by the assessee du ng
previous year-confirmations of the balalces as on 31.3.07. - copy of
reconciliation statements in case of variance in the closirg balarce -
reflection of the reconciliation entries in the bank statement of subsequent
period.
5. The details of persons with purpose to whom loans and advances were
given.
6. The details of expeises payable with evidence of payment of expenses
before the filing of returll which is statutory as per the Act to claim it as an expense
7. the copy of return oI the Directors are to be filed for the A.Y. 2007-08.

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