Amendment to Income-tax Act broadens grounds for account scrutiny to include volume, doubts, multiplicity, and specialised activity. The amendment to section 142(2A) of the Income-tax Act substitutes wording to add as bases for account examination: the nature and complexity of accounts, volume of accounts, doubts about correctness of accounts, multiplicity of transactions, and specialised nature of the assessee's business activity, effective from 1 June 2013.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Amendment to Income-tax Act broadens grounds for account scrutiny to include volume, doubts, multiplicity, and specialised activity.
The amendment to section 142(2A) of the Income-tax Act substitutes wording to add as bases for account examination: the nature and complexity of accounts, volume of accounts, doubts about correctness of accounts, multiplicity of transactions, and specialised nature of the assessee's business activity, effective from 1 June 2013.
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