Section 142 of ITA, 1961 : Section 142: Inquiry Before Assessment

Explanation using Example

Imagine a scenario where Mr. Sharma, a business owner, has not filed his income tax return for the financial year 2021-2022 within the due date prescribed under section 139(1) of the Income Tax Act, 1961. As a consequence, the Assessing Officer (AO) issues a notice to Mr. Sharma under Section 142(1) after the end of the assessment year.

The notice requires Mr. Sharma to:

1. Furnish a return of his income, verified in the prescribed manner, by a specified date.
2. Produce the books of accounts and other relevant documents that the AO may require for examina...

Login to access all pages and read more content.

To disable ads and read rest of the premium content, subscribe to KanoonGPT Pro.