Transactions are under rules and regulations of IT act, like section 40(3a), 206, 269, etc. etc. etc............; which we have accepted and not challanged under law defined as per our constitution .
Fear and duty are totally different. If I perform my duty, I get protection of my constitution; but if I do not perform as per act/laws, I get fear and............
Coming to your point, if any department suspect any wrongful act done my me, they can get court orders to scrutinize each and every doubtful event, including my bank accounts... etc. Even get attached to any asset. (eg. Kingfisher, Sahara.........). That is why whole fear!!!
Section 143(2) is just a kid as compared to other big fears!!!