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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