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New section 133C of the Income-tax Act 1961 an analysis

Income Tax - Direct Tax Code - DTC - By: - CADEV KUMAR KOTHARI - Dated:- 13-11-2015 - Section 133C was Inserted vide THE FINANCE (No. 2) ACT, 2014 w.e.f. 1st day of October, 2014. It reads as follows (Highlights added) Power to call for information by prescribed income-tax authority. 133C. The prescribed income-tax authority, may for the purposes of verification of information in its possession relating to any person, issue a notice to such person requiring him, on or before a date to be specif .....

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tion 133C shall be the Principal Director General or Director General or Principal Director or Director as the case may be. Explanation.- For the purposes of this rule Principal Director General or Director General or Principal Director or Director means the Principal Director General of Income-tax or the Director General of Income-tax or the Principal Director of Income tax or the Director of Income-tax to whom the Central Board of Direct Taxes may authorise to act as prescribed authority for t .....

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ibed authority for the purposes of section 133C. Therefore any such authority must be specifically authorised by CBDT to act as prescribed authority for the purposes of S. 133C. Without such specific authorisation an officer though holding office of prescribed rank will not be prescribed authority/ An Assessing Officer (AO) whether be an DCIT, Addl. DCIT or An Income-tax Officer (ITO) cannot act as prescribed authority for the purposes of S. 133C does not appear to be prescribed authority for th .....

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