India - Income Tax Act 2010 - Saarc

1.661 CH. XIV - PROCEDURE FOR ASSESSMENT S. 14240[(ii)] to produce, or cause to be produced, such accounts or documents asthe 41 [Assessing] Officer may require, or42[(iii)] 43 to furnish in writing and verified in the prescribed manner informationin such form and on such points or matters (including a statementof all assets and liabilities of the assessee, whether included in theaccounts or not) as the 44 [Assessing] Officer may require :Provided that—(a) the previous approval of the 45 [Joint Commissioner] shall be obtainedbefore requiring the assessee to furnish a statement of all assets andliabilities not included in the accounts ;(b) the 46 [Assessing] Officer shall not require the production of anyaccounts relating to a period more than three years prior to theprevious year.(2) For the purpose of obtaining full information in respect of the income or lossof any person, the 46 [Assessing] Officer may make such inquiry as he considersnecessary.47[(2A) 48 If, at any stage of the proceedings before him, the 49 [Assessing] Officer,having regard to the nature and complexity 50 of the 50 accounts of the assesseeand the interests of the revenue, is of the opinion that it is necessary so to do, hemay, with the previous approval of the 51 [Chief Commissioner or Commissioner],direct the assessee to get the accounts audited by an accountant, as defined inthe Explanation below sub-section (2) of section 288, nominated by the 51 [ChiefCommissioner or Commissioner] in this behalf and to furnish a report of suchaudit in the prescribed form 52 duly signed and verified by such accountant andsetting forth such particulars as may be prescribed and such other particulars asthe 53 [Assessing] Officer may require :40. Renumbered by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.41. Substituted for “Income-tax”, ibid., w.e.f. 1-4-1988.42. Renumbered, ibid., w.e.f. 1-4-1989.43. See rule 14.44. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.45. Substituted for “Deputy Commissioner” by the Finance (No. 2) Act, 1998, w.e.f. 1-10-1998.Earlier “Deputy Commissioner” was substituted for “Inspecting Assistant Commissioner”by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988.46. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.47. Inserted by the Taxation Laws (Amendment) Act, 1975, w.e.f. 1-4-1976.48. See rule 14A and Form No. 6B for audit report under section 142(2A).49. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.50. For the meaning of the terms “complexity” and “accounts of assessee”, see Taxmann’sDirect Taxes Manual, Vol. 3.51. Substituted for “Commissioner” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.52. See rule 14A and Form No. 6B for audit report under section 142(2A).53. Substituted for “Income-tax” by the Direct Tax Laws (Amendment) Act, 1987, w.e.f.1-4-1988.