sec 133B
This query is : Resolved
13 May 2011
SIR, whether income tax authority can inspect books of accounts and any other document and can take extract there of while visiting a place of business under section 133B
13 May 2011
Yes they can inspect the documents and take the copy but not original documents. See point 3 below.
Power to collect certain information.
133B. (1) Notwithstanding anything contained in any other provision of this Act, an income-tax authority may, for the purpose of collecting any information which may be useful for, or relevant to, the purposes of this Act, enter—
(a) any building or place within the limits of the area assigned to such authority ; or
(b) any building or place occupied by any person in respect of whom he exercises jurisdiction,
at which a business or profession is carried on, whether such place be the principal place or not of such business or profession, and require any proprietor, employee or any other person who may at that time and place be attending in any manner to, or helping in, the carrying on of such business or profession to furnish such information as may be prescribed.
(2) An income-tax authority may enter any place of business or profession referred to in sub-section (1) only during the hours at which such place is open for the conduct of business or profession.
(3) For the removal of doubts, it is hereby declared that an income-tax authority acting under this section shall, on no account, remove or cause to be removed from the building or place wherein he has entered, any books of account or other documents or any cash, stock or other valuable article or thing.
Link--
http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2005ITAct/section133b.htm
Failure to allow an Income-tax Authority to collect any information useful or relevant to the purposes of Income-tax Act u/s.133B may invite levy of penalty [Section 272AA)]
Power to collect certain information.
133B. (1) Notwithstanding anything contained in any other provision of this Act, an income-tax authority may, for the purpose of collecting any information which may be useful for, or relevant to, the purposes of this Act, enter—
(a) any building or place within the limits of the area assigned to such authority ; or
(b) any building or place occupied by any person in respect of whom he exercises jurisdiction,
at which a business or profession is carried on, whether such place be the principal place or not of such business or profession, and require any proprietor, employee or any other person who may at that time and place be attending in any manner to, or helping in, the carrying on of such business or profession to furnish such information as may be prescribed.
(2) An income-tax authority may enter any place of business or profession referred to in sub-section (1) only during the hours at which such place is open for the conduct of business or profession.
(3) For the removal of doubts, it is hereby declared that an income-tax authority acting under this section shall, on no account, remove or cause to be removed from the building or place wherein he has entered, any books of account or other documents or any cash, stock or other valuable article or thing.
Link--
http://law.incometaxindia.gov.in/DitTaxmann/IncomeTaxActs/2005ITAct/section133b.htm
Failure to allow an Income-tax Authority to collect any information useful or relevant to the purposes of Income-tax Act u/s.133B may invite levy of penalty [Section 272AA)]
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