Utilization of information in AIRs – CBDT instructions
For utilization of information in the Annual Information Returns (AIRs) relating to financial year 2004-05, Board had earlier instructed the Chief Commissioners to confer concurrent jurisdiction on one or more AOs. Now Board says the Commissioners can do this job instead of Chief Commissioners.
What to do if the address of the assessee is not traceable? It may be because of incomplete address or change in address. All efforts should be made to trace the assessee in accordance with the procedure. However, it should be ensured that there is valid service of notice. Further if, because of time taken in tracing the assessee, no time is available for issue of notice under section 142(1) and for making the assessment up to 31-12-2007, notice may be issued under section 148 after 31-12-2007.
CBDT INSTRUCTION NO. 7/2007, Dated: August: 16, 2007