https://www.taxtmi.com/circulars?id=10448 Section 44AA requires proper maintenance of books of accounts; while computerized daily records may be kept in loose sheets and bound periodically, loose-sheet recordkeeping used solely to enable subsequent manipulation to evade tax is objectionable. During surveys and searches officials should scrutinise record form and, where loose records are deliberately maintained to facilitate tax evasion, initiate penalty proceedings and consider criminal prosecution as deterrent action. en-us Wed, 08 Mar 1995 00:00:00 +0530 Tue, 14 Jun 2011 13:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10448 Section 44AA requires proper maintenance of books of accounts; while computerized daily records may be kept in loose sheets and bound periodically, loose-sheet recordkeeping used solely to enable subsequent manipulation to evade tax is objectionable. During surveys and searches officials should scrutinise record form and, where loose records are deliberately maintained to facilitate tax evasion, initiate penalty proceedings and consider criminal prosecution as deterrent action. Circulars Income Tax Wed, 08 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10448