Query regarding notice u/s.142(1)

[Himatlal Pandit]

Sir,

Our client has received notice u/s. 142(1),for A.Y.2009-10, from A.O.for funishing Trading A/c.,Profit & Loss A/c. and Balance sheet for Accounting year 2008-09, though notice u/s. 143(2) is not received upto 30-09-2010.Can A.O. can ask the said documents though case is not under scrtiny assessment for A.Y.2009-10. Whether A.O. can ask the abovesaid documents for A.Y.2010-11, by issuing notice u/s. 142(1)? Please give reply of our query.

Thanking you,sir,

Yours faithfully,

For, Pandit & pandit

Chartered Accountants.

[CA Rachit Agarwal]

AO cannot ask for financial statements for the AY- 2009-10, if the notice not issued before 30.09.2010 provided the return is filed in the year 2009-10. The assessment would be time barred assessments pursuant to section 143(2)(ii).

AO can defninitely ask for the financial statements for the AY 2010-11, provided the notice is issued before 30.09.2011.

[KAMAL PODDAR]

what happens if notice is issued but not received

AI Summary

Assessing Officer's request for 2009-10 documents is invalid due to missed deadline under Section 143(2). A client received a notice under section 142(1) for the assessment year 2009-10, requesting financial documents, although no notice under section 143(2) was received by the deadline of September 30, 2010. The query was whether the Assessing Officer (AO) can request these documents for the assessment year 2009-10 or 2010-11. The response clarified that the AO cannot request documents for 2009-10 if the notice was not issued by the deadline, making it time-barred. However, the AO can request documents for 2010-11 if the notice is issued before September 30, 2011.