Amended and updated notes on section 133B of Income Tax Act 1961 as amended by the Finance Act 2022 and Income-tax Rules, 1962. Detail discussion on provisions and rules related to Power to collect certain information.
Chapter XIII (Sections 116 to 138) of the Income Tax Act 1961 deals with the provisions related to Income-tax Authorities. Section 133B of IT Act 1961-2020 provides for Power to collect certain information.
Recently, we have discussed in detail section 133A (Power of survey) of IT Act 1961. Today, we learn the provisions of section 133B of Income-tax Act 1961. The amended provision of section 133B is effective for financial year 2022-23 relevant to the assessment year 2023-24.
In this article, you will learn detail of the provisions of section 133B of the Income Tax Act, 1961 Bare Act read with the Income-tax Rules, 1962, regulations, notifications, circulars, orders and Press Release by CBDT, Income Tax Department and the Ministry of Law and Justice, Government of India.
Section-133B: Power to collect certain information
Section 133B(1) of Income Tax Act
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.
Section 133B(2) of Income Tax Act
An income-tax authority may enter any place of business or profession referred to in sub-section (1) only during the hours at which such place is open for the conduct of business or profession.
Section 133B(3) of Income Tax Act
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.
Explanation: In this section, “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.