Amendment of section 142

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..... the accounts, multiplicity of transactions in the accounts or specialised nature of business activity of the assessee, and shall be substituted with effect from the 1st day of June, 2013. - Clause 33 of the Bill seeks to amend section 142 of the Incometax Act relating to inquiry before assessment. The existing provisions contained in sub-section (2A) of section 142 of the Act, inter .....

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..... he assessee, and the interests of the revenue, is of the opinion that it is necessary to do so, he may, with the previous approval of the Chief Commissioner or Commissioner, direct the assessee to get his accounts audited by an accountant and to furnish a report of such audit. This amendment will take effect from 1st June, 2013. - statute, statutory provisions legislation, law, enactment .....

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