Notice u/s 142(1) of the Income Tax Act

Dear All,

On 12th July 2011, i received notice from Income Tax under Section 142(1) for asking various details for AY 2003-04, 2004-05 and 2005-06. According to me Section 142(1) clearly state that AO shall not requier the production of any accounts relting to a period more than 3 accounting years prior to the previous year. So, for AY 2011-12, the previous year is PY 2010-11. So, AO can not ask for details prior to PY 2008-09. Hence in my view the notice u/s 142(1) is time barred.

Please  provide your valueable inputs and provide any case law (if any)

Thanks

Bhavik Dave