Income tax
Neeraj Kumar Giri
(Querist) 30 April 2014
This query is : Resolved
Respected Experrts,
Kindly advice me that if any assessee engaged in resale business and he use to bring his goods from outside the state and sale the same in his own state and after completion of the financial year he had submitted his Income Tax return in ITR - 4,for the A.Y.2012-2013, in "NO ACCOUNT CASE" and claiming deduction under chapter VI A tuition fees and LIC. The Assessing Officer issued a notice u/s 142(1) and demanded to produce the Books of Account, and Ledger copies of Creditors and Debtors etc. But my question is that can an Assessing Officer demand such documents as the case is of "NO ACCOUNT CASE" and the Assessee did not maintain any Books of Accounts because the turnover has been shown in the return was only Rs. 15 Lakhs and profit was above 8%, how can and under which section the Assessing Officer compel the Asseesse to produce books of A/c.
Please give your valuable advice.
Thanks.
T. Kalaiselvan, Advocate 
(Expert) 30 April 2014
The AO has got rights to demand such records as may be felt necessary to verify the veracity of the returns, please consult your auditor for further clarifications on the subject.
