Enquiry before Assessment - Notice under section 142(1)

Notice under section 142(1) compels furnishing returns or producing books and asset details to enable assessment proceedings.

An Assessing Officer may issue a notice under section 142(1)(i) to require filing of a return where none was filed within the time under section 139(1), and under section 142(1)(ii) may require production of books and documents (limited to three prior years) and information including assets and liabilities, with prior Joint Commissioner approval required for assets not in accounts; such notices may be served after the filing time has expired and need not precede a best judgment assessment.