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Notice U/s 142(1)
can an income tax officer ask bank statements and Income Tax Returns of my relatives and friends from me in my case?
Replies (3)
YES HE CAN, SUPPOSE ANY INCOME TRANSACTIONS ACCOUNTED IN YOUR BOOKS IN RELATION TO THEM, THEN HE HAS POWER TO ASK THAT RELATIVES BANK STATEMENTS AND IT RETURNS U/S 142(1)
It's a Case of 11-12 and now I am not in connection with my some friends but I have entries of Loan return in my bank statement, will this be a sufficient proof?
yes he can ask you
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