23 May 2014
Can the deputy director of income tax(Investigation)by issue of summons u/s 131(1A)ask for the production of entire books of accounts of the assessee? What will be the consequences if assessee fails to produce such books of accounts in short notice of Just one day??
25 May 2014
Whether the DDI has power is to be determined by the nature and reason for the summons. In any case reasonable notice has to be given for production of books of accounts. You can ask for sufficient and reasonable time to produce. There will be no consequences. But ensure that you appear on the day fixed and personally request for time.
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