Section 133 of ITA, 1961 : Section 133: Power To Call For Information

Explanation using Example

Imagine a situation where Mr. Sharma, an Assessing Officer from the Income Tax Department, is conducting an investigation into a firm suspected of concealing income. To gather more information, he exercises his powers under Section 133 of the Income-tax Act, 1961:

• Mr. Sharma requires the firm to provide a list of all partners, their addresses, and their respective shares in the firm to check if the income reported by each partner aligns with their share in the firm's profits.
• He suspects ...

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