Default in notice u/s 133(6)

hello,

a notice u/s 133(6) has been recieved requiring assessee to furnish ledger in the books of assessee of third party and also ITR and B/S of relevant year of assessee.

* Is department correct in asking B/S and ITR of assessee

* The notice states to be replied within 3 days..but 40 days have passed.what are legal consequences that may be faced by assessee and how can be avoided?

*format of letter as a reply for the same

 

Regards

Replies (5)

For failure to comply with notice u/s 133(6) Section 133(6) notice is given to tax payer or related parties seeking certain details of transaction done during the year under consideration. Failure to comply with notice can ead penalty of Rs 10000 u/s 272A .

2 more queries to above case are there.kindly reply to them also

Yes now  a days Department is asking for ITR & Bsheet  of assesse for Justifying the Creditworthiness & Genuineness of transaction

Format of the same is depend upon the Wording used in Notice & what kind of information is Department is asking . there is no specific format of the same.

Reply to the notice is being made beyond the time limit.should reason for the same is mandatory to be mentioned in the letter of reply

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