The 'person' can be an individual, an HUF, a company, a firm.
banking company or any officer thereof".
The 'person' can be an individual, an HUF, a company, a firm.
Information under this section cannot be sought for in the case of any hypothetical proceedings which may or may not take place.
"Notice under Section 133(6) of the Act is required to be issued, after obtaining prior approval of principal commissioner of income tax, commissioner income tax, principal DIT as provided in the Act, in case where the 'person under verification' fails to file online response in a timely manner in spite of the issue of reminder by the assessing officer," the CBDT instruction said.
It said the notice will be generated through the Income Tax Department System only and no hand written and typed notice is required to be issued.
"Response to notice under Section 133(6) of the Act has to be furnished within the stipulated period by the person under verification only through the online mode," it said.
It reiterated that verification under Operation Clean Money is to be made through the online verification portal only.
The Big Data analysis by the tax department has revealed that deposits of over Rs 2 lakh totalling Rs 10 lakh crore were made in about 1 crore bank accounts in the 50-day window after the demonetisation decision that cancelled 86 per cent of currency in circulation.
Chartered accountancy firm Prakash Sachin & Co Partner Prakash Sinha termed the step as "a good move" by the department against corruption.
"The department will issue the notice as well as get reply through the online system. Further suitable administrative checks have been created to avoid the misuse of the discretionary power of officer," Sinha said.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}