Scrutiny assessent
This query is : Resolved
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.
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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- ITR returnFY25-26
- Bank Accounts in Balance Sheet for ITR 3
- ITR validation error - Balance sheet is not filled
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
