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Scrutiny assessent

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16 August 2010 sir,

we have declared income u/s 44AF of @ 5% on sales. the case is selected for scrutiny u/s 143. the a.o is asking for statement of affairs for last 3 years and also balance sheet. it is not possible to prepare the b/s or s.a. hence what is the remedy under the act. it is necessary to submit statement of affairs.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 August 2010 Provisions of section 44AA is not applicable for 44AF case meaning therby, since there is no books of accounts B/S cannot be insisted upon by AO. Like wise, the AO is not empowered by secrion 143 to seek for statement of Affairs whereas there is a specific provision in section 142(1)(iii) to ask for statement of affairs with the prior approval of the joint commissioner.
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