Dear Friends,
I need your opinion on following:
My Client was asked to file his ITR u/s 142(1). We filed his ITR and Statement of Affairs as asked by the ITO. Then ITO issued summon u/s 131 and recorded my client's statement. After recordiing his statement, he asked for :
1) Bank Statement of last 5 years :
2) Confirmation of Current Loan and previous repaid loan:
3) The ITR of the company in which he was a director and which has been dissolved.
Now my thinking is that he cannot ask for these things as these do not belong to the AY 10-11. If he want the above thing, then he should issue me 148. I don't think 131 given such huge power to ITO.
I need your opinion so that I can refuse him in writing.