Under Section 142(1)

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Bhagwant Singh Gehlot (Querist)
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05 August 2010 My assessee received notice from Income tax department dated 29-07-2010 under section 142(1) require books of account for the assessment year 2008-2009.
is valid notice please explain provision under section 142(1)

CA Sanat Pyne

CA Sanat Pyne (Expert)
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05 August 2010 yes it is a valid notice.

Section 142

ENQUIRY BEFORE ASSESSMENT.

(1) For the purpose of making an assessment under this Act, the Assessing Officer may serve on any person who has made a return under section 139 or in whose case the time allowed under sub-section (1) of that section for furnishing the return has expired a notice requiring him, on a date to be therein specified, - (i) Where such person has not made a return within the time allowed under sub-section (1) of section 139, to furnish a return of his income or the income of any other person in respect of which he is assessable under this Act, in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed,

(ii) To produce, or cause to be produced, such accounts or documents as the Assessing Officer may require, or

(iii) to furnish in writing and verified in the prescribed manner information in such form and on such points or matters (including a statement of all assets and liabilities of the assessee, whether included in the accounts or not) as the Assessing Officer may require :

Provided that -

(a) The previous approval of the Joint Commissioner shall be obtained before requiring the assessee to furnish a statement of all assets and liabilities not included in the accounts;

(b) The Assessing Officer shall not require the production of any accounts relating to a period more than three years prior to the previous year.

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