TaxTMI 
TaxTMI 
Dear Experts in one of the case AO insisting for the proof of building improvement made during the year 1994-95, is it correct?
Because asseeee could not trace the same as it was incurred 20 years ago.
Regards
Mohamed Yacoob Shariff
Time limit for keeping the records
30 Mar 2013 
1 Reply 
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Record retention obligations require books be maintained for six years; alternative evidence may prove historic building improvements.
An assessing officer sought proof of a building improvement from assessment year 1994-95; under income tax rules, books of accounts must be maintained for six years from the end of the relevant assessment year, and where such records are not traceable the improvement can be proved by other evidence. (AI Summary)
An assessing officer sought proof of a building improvement from assessment year 1994-95; under income tax rules, books of accounts must be maintained for six years from the end of the relevant assessment year, and where such records are not traceable the improvement can be proved by other evidence. (AI Summary)