Power to collect Information - Section 133B - Income Tax - Ready Reckoner - Income Tax

Power to collect Information - Section 133B (1) Notwithstanding anything contained in any other provision of this Act, An income-tax authority may, for the purpose of collecting any information which may be useful for, or relevant to, the purposes of this Act, enter- - ( a ) any building or place within the limits of the area assigned to such authority ; or - ( b ) any building or place occupied by any person in respect of whom he exercises jurisdiction, - at which a business or profession is carried on, whether such place be the principal place or not of such business or profession, and require any proprietor, employee or any other person who may at that time and place be attending in any manner to, or helping in, the carrying on of such business or profession to furnish such information as may be prescribed. (2) An income-tax authority may enter any place of business or profession referred to in section 133B(1) only during the hours at which such place is open for the conduct of business or profession. (3) For the removal of doubts, it is hereby declared that an income-tax authority acting under this section shall, on no account, remove or cause to be removed from the building or place wherein he has entered, any books of account or other documents or any cash, stock or other valuable article or thing. Income-tax authority means a Joint Commissioner, an Assistant Director or Deputy Director or an Assessing Officer, and includes an Inspector of Income-tax who has been authorised by the Assessing Officer to exercise the powers conferred under this section in relation to the area in respect of which the Assessing Officer exercises jurisdiction or part thereof.+ Penalty for failure to comply with the provisions of section 133B [ Section 272AA ] If a person fails to comply with the provisions of section 133B, he shall pay, by way of penalty, a sum which may extend to one thousand rupees. Such penalty imposed by on an order passed by the Joint Commissioner, Assistant Director or Deputy Director or the Assessing Officer, as the case may be. No order shall be passed unless the person on whom the penalty is proposed to be imposed is given an opportunity of being heard in the matter.