what is the process if any notice has been place u/s 142(1)

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ajit sihag (Querist)
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06 September 2010 please tell me about the notice u/s 142(1) and what procedure follow for the settlement of this section

CMA. Subhash Kumar Jha

CMA. Subhash Kumar Jha (Expert)
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06 September 2010 This notice must carry a list of documents / records, which you need to present on a given date & time.

Just prepare a detailed point-wise (as per points given in the notice)reply with appropriate & complete attachments.

Present this reply on the given date & time before the AO (signing the notice).

You can also take the help & advice of your CA / Tax counsel & may also represent the reply through him.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 September 2010 If the notice is as per section 142(1)(iii), the above observation is correct.
The section has two more sub clauses also viz.,
143(1)(i) - As per this section assessee has to file a return if no return is filed, for the assessment year, earlier.
143(1)(ii) - as per this section, the assessee has to produce such accounts or documents as the Assessing Officer may require.

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