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LOSS OF VALUABLE TIME OF TAX AUTHORITIES BY CALLING UN-NECESSARY DOCUEMTNS AND EVIDENCES LEADING TO HARRASMENT OF PUBLIC

LOSS OF VALUABLE TIME OF TAX AUTHORITIES BY CALLING UN-NECESSARY DOCUEMTNS AND EVIDENCES LEADING TO HARRASMENT OF PUBLIC - Income Tax - Direct Tax Code - DTC - By: - CA DEV KUMAR KOTHARI - Dated:- 17-3-2015 Last Replied Date:- 18-3-2015 - Scrutiny assessments: Generally during course of scrutiny assessment the Assessing Officers harass not only his assessee but also other parties with whom his assessee had entered into transactions. For verification of transactions, notices are issued calling fo .....

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third party. Wastage of time of tax authorities: Calling for unnecessary information, evidences, and verification of same result into lot of wastage of time of tax authorities and un-necessary piling of documents. The conclusive documents are enough so there is no need to just collect so many documents to make files bulky. This causes wastage of valuable time of tax authorities and staff. This also make work of higher authorities tough, because what is relevant is lost amongst irrelevant informa .....

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ere is risk that tax authorities may threaten parties by un-necessary and prematurely showing provisions of penalty and prosecution etc. Even when transactions are reflected in TDS returns, AIR return with PAN, details are asked for which are available or have been furnished to the authorities by other party. Example: In the following table in the left column, examples of information called for by some assessing officers for verification of loan / deposit taken by his assessee are given. .....

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No purpose of these documents because for loan verification other documents are relevant. In any case ITR is available at a click of mouse. 3 Copy of Audited books of accounts - P/L account , Balance Sheet and Audit Report for the A.Y. - 2012-13. No purpose of these documents because for loan verification other documents are relevant. In any case in ITR, which is available at a click of mouse, most of relevant information .....

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S claims, and ITR of both parties. 5 Details of All Bank Accounts with Bank Statement and Bank Reconciliation Statement for the A.Y. 2012-13. In fact this should also not be required. When the assessee/ party receiving money has shown his bank statement showing money received by way of cheque/ e-cheque and credited to his account by bank after realization of funds on cheque/ e-cheque issued by the loan creditor. Now-a-days bank statements , gene .....

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