notice u/s 143(2) and 142(1)
SHASHI BHUSHAN GALIB
(Querist) 07 May 2010
This query is : Resolved
what should i do on recieving notice u/s 142(1) for furnish in writing along with audit report balance sheet, trading and profit and loss account with anextures
AMIT BAJAJ ADVOCATE
(Expert) 07 May 2010
Notice u/s 142(1) must have been issued along with notice u/s 143(2) , that be the case, your case have been selected for scrutiny assessment.
You should produce the relevent documents as been asked for in the notice if available and cooperate in asssessment proceedings.
You can refer to the article at the following link for more on the scrutiny assessments
http://amitbajajadvocate.blogspot.com/2010/02/scrutiny-assessements-under-income-tax.html
soumitra basu
(Expert) 07 May 2010
In addition to Mr. Bajaj I would like to request you to see whether notice under section 143 (2) has been properly served on you and within September. If not the AO has no jurisdiction to assess your case and in that case you should not co-operate with the department in any manner. If you co-operate then you will lose your right.
Kumar Thadhani
(Expert) 07 May 2010
Yes I do agree with expert Mr Bajaj.
AMIT BAJAJ ADVOCATE
(Expert) 07 May 2010
Yes Mr. Basu rightly pointed out. Notice u/s 143(2) must be served before 30th september. As per newly added section 292BB If one ignores the late service of notice u/s 143(2)and dont object to it and co-operate in the assessment proceedings then the assessee looses this right to object forever and even in the appeal the assessment order cant be challenged on the ground of late or irregular service of notice.
Vineet
(Expert) 07 May 2010
Dear Mr Galib
I agree with the experts above. Apart from technicals, it appears that you must be wondering as to how this requirement of audit report or books of accounts is arising. It is so because the for the returns which have been filed online, the AO does not have any record and the cases have been selected by CASS. As per latest guidelines, the returns were to be filed without any annexure. So the first thing AOs do is ask for audit report, balance sheet etc and in most of the cases even a copy of return and acknowledgement.
If you do not hav any income from business and profession or even otherwise your case need not require to be audited, politely intimate these facts to the AO. Only provide that much information which you have or you are supposed to have without getting disturbed with the language of notice.
