Scrutiny u/s 142(1) for AY 2005-06

What's the validity of a notice from IT for a scrutiny u/s 142(1) for AY 2005-06? I received one notice in Dec08 requesting for a copy of the return, another in Jan09 requesting the same and another one now (Mar09). The latest one wants to know how I could pay credit card bills of Rs 3lacs for AY 2005-06. Am not even sure I have all the records for AY 2005-06 for the credit card.

Replies (1)

 

                 As per Sec.153(1), the time limit for compeletion of assessment under Sec.143(1) is upto 2 yrs from the end of the assessment yr to which the income relate........in ur case, the A.O. has to pass the order by 31st march 09.......since there is no time limit for sending notice under sec.142(1) but the same for completion of assesssment........he can vry well send notice any time before which the assessment has to be completed...........in my view, notice is valid and u hve to comply by it.......

 

 

 

 

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