Scrutiny
This query is : Resolved
02 October 2012
Dear Sir,
Suppose an assessee is unable to produce his accounts except his audit report and bank statements before AO in scrutiny proceedings.
Then what would be consequences.
Whethe the AO will levyied penalty for non maintaining accounts or not.
Please clarify.
Suppose an assessee is unable to produce his accounts except his audit report and bank statements before AO in scrutiny proceedings.
Then what would be consequences.
Whethe the AO will levyied penalty for non maintaining accounts or not.
Please clarify.
02 October 2012
If you dont produce all the accounts and documents and do not cooperate in the scrutiny procedure then the AO shall make a best judgement assessment on you u/s 144. And then the AO on his own will determine the tax payble.
03 October 2012
Suppose assessee submits an affidavit that income shown in return is true in his knowledge. Then even after that affidavit, whether the AO will enhance income or not.
03 October 2012
Affidavit is not covered under the defination of records and accounts.
Hence AO will go for sec 144.
Hence AO will go for sec 144.
03 October 2012
I suggest you the better way.... Meet your auditor and show him all the accounts and records which you are afraid to produce before the AO. He will suggest you that what should be done and how.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Sale of property furniture sale
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- RCM INVOICING FROM NOV-2024
- Confusion around Form 26QB fields
- Tds on building rent monthly
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- TDS under section and rate of TDS
- GST input on scooter purchased
- TDS under section 194Q and TCS under section 206C
- GST input on car insurance and repairs
- GST input on Diwali gift to employee
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
Trending Online Classes
CAclubindia
