Assessee should be prosecuted u/s 276(b) for failure to comply with the provisions of section 133(4).

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..... allowed as a deduction the major portion of the secret commission alleged to have been paid by a bookseller. In taking the view that secret commission was in fact paid, the Tribunal relied on the nature of the business, the high margin of profit earned by the assessee and the increase in the sales. The factors mentioned above are clearly in the nature of surmises and conjectures and are not incons .....

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..... ssee does not admit having paid commission in excess of Rs. 400, a specific notice u/s 133(4) should be issued to the assessee and if he fails to comply with this notice u/s 133(4) prosecution u/s 276(b) should be launched. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - .....

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