https://www.taxtmi.com/forum/issue?id=2296 An assessing officer may seek details of opening capital introduced in earlier years; one suggested response is a written statement that no fresh capital was introduced. Statutory inquiry powers are subject to two constraints: prior Joint Commissioner approval is required to demand statements of assets and liabilities not in the accounts, and accounts older than three years prior to the previous year generally cannot be required; calling for opening capital details is within those inquiry-power limits. en-us Mon, 18 Oct 2010 12:36:21 +0530 Thu, 23 Jan 2025 15:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=2296 An assessing officer may seek details of opening capital introduced in earlier years; one suggested response is a written statement that no fresh capital was introduced. Statutory inquiry powers are subject to two constraints: prior Joint Commissioner approval is required to demand statements of assets and liabilities not in the accounts, and accounts older than three years prior to the previous year generally cannot be required; calling for opening capital details is within those inquiry-power limits. Discussion-Forum Income Tax Mon, 18 Oct 2010 12:36:21 +0530 https://www.taxtmi.com/forum/issue?id=2296