https://www.taxtmi.com/caselaws?id=7829 The court upheld the impounding of the account books under section 131(3) of the Income-tax Act, 1961, due to alleged fictitious entries and Uchanti business activities. It was found that the Income-tax Officer had recorded reasons for impounding the books, although these reasons were not communicated to the petitioner-firm. The court clarified that while reasons must be recorded, there is no statutory obligation to communicate them to the assessee. The petition challenging the impounding was dismissed, emphasizing that communication of reasons to the assessee is not required by law. en-us Thu, 26 Mar 1970 00:00:00 +0530 Thu, 19 Mar 2009 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7829 The court upheld the impounding of the account books under section 131(3) of the Income-tax Act, 1961, due to alleged fictitious entries and Uchanti business activities. It was found that the Income-tax Officer had recorded reasons for impounding the books, although these reasons were not communicated to the petitioner-firm. The court clarified that while reasons must be recorded, there is no statutory obligation to communicate them to the assessee. The petition challenging the impounding was dismissed, emphasizing that communication of reasons to the assessee is not required by law. Case-Laws Income Tax Thu, 26 Mar 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7829