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Section 133- power to call for information- an analysis

Income Tax - Direct Tax Code - DTC - By: - CA DEV KUMAR KOTHARI - Dated:- 12-8-2016 - Provision : Section 133 of Income Tax Act, 1961. Relevant provision from the Income-tax Act, 1961 Major points Power to call for information. 133. The [Assessing] Officer, the Deputy Commissioner (Appeals),the Joint Commissioner or the Commissioner Appeals may, for the purposes of this Act,- The provision is not mandatory but discretionary. It is to achieve purposes of the Act, that concerned authority can call .....

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indu undivided family to furnish him with a return of the names and addresses of the manager and the members of the family ; Any HUF can be asked to furnish information about manager and members of the HUF- name and address. Information can be called as a return (3) require any person whom he has reason to believe to be a trustee, guardian or agent, to furnish him with a return of the names of the persons for or of whom he is trustee, guardian or agent, and of their addresses ; In this case if a .....

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aries amounting to more than 5[one thousand rupees, or such higher amount as may be prescribed], together with particulars of all such payments made ; Here requirement can be from any assessee. This means that the authority must have relationship of AO with the concerned person as assessee. Therefore, this sub-section (4) can be said applicable only in case of the AO who can ask his assessee to furnish any of information as specified in this sub-section. On reading of the list of information whi .....

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rom whom he or the exchange has received any such sum, together with particulars of all such payments and receipts ; Use of words any dealer, broker or agent or any person concerned in the management of a stock or commodity exchange suggests that enquiry can be made from dealer, broker , agent or any person concerned with stock or commodity exchange. It seems not applicable to any other dealer or broker or agent. A statement of information (6) require any person, including a banking company or a .....

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will be useful for, or relevant to, any 14[enquiry or] proceeding under this Act : This sub-section is related to enquiry which can be made from any person, including banking company or any officer of banking company. The words any person is undoubtedly wide. However, the persons specified in sub-sections 1-5 must be excluded. Information which will be useful or relevant to any enquiry or proceedings under the Act can be called. A statement of Information 15[Provided that the powers referred to .....

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y any income-tax authority below the rank of 18[Principal Director or] Director or 18[Principal Commissioner or] Commissioner without the prior approval of the 18[Principal Director or] Director or, as the case may be, the 18[Principal Commissioner or] Commissioner.] In case where any proceeding is not pending, power in respect of enquiry can be exercised only by senior authorities mentioned in this proviso. Any other authority can exercise such power only with prior approval of senior authoriti .....

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