https://www.taxtmi.com/acts?id=51813 Inquiry before assessment authorises the Assessing Officer to require returns, accounts, documents and verified information; obtain prior Joint Commissioner approval to demand assets not in accounts; and not require accounts older than three years. The Assessing Officer may order, with senior commissioner approval and after hearing the assessee, an audit by a nominated accountant and/or inventory valuation by a nominated cost accountant, with prescribed reports and a furnishing period extendable for good reason but not exceeding six months in aggregate. Audit and valuation expenses are determined by guidelines and paid by the Central Government, and the assessee is entitled to a hearing on material from such inquiries or audits. en-us Thu, 14 Aug 2025 17:19:46 +0530 Fri, 05 Sep 2025 14:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=51813 Inquiry before assessment authorises the Assessing Officer to require returns, accounts, documents and verified information; obtain prior Joint Commissioner approval to demand assets not in accounts; and not require accounts older than three years. The Assessing Officer may order, with senior commissioner approval and after hearing the assessee, an audit by a nominated accountant and/or inventory valuation by a nominated cost accountant, with prescribed reports and a furnishing period extendable for good reason but not exceeding six months in aggregate. Audit and valuation expenses are determined by guidelines and paid by the Central Government, and the assessee is entitled to a hearing on material from such inquiries or audits. Act-Rules Income Tax Thu, 14 Aug 2025 17:19:46 +0530 https://www.taxtmi.com/acts?id=51813