Clause wise discussion on form 3CD Clause 9 (a) to (c), meaning of books of account

[gopalji]

As per Rule 6 F (Knowledgebible.com), of the Income Tax Rules 1962 the books of account to be kept and maintained for a period of six years from the end of relevant assessment years.

[gopalji]

As per Companies Act (Knowledgebible.com)
(4A) The books of account of every company relating to a period of not less than eight years immediately preceding the current year 12[together with the vouchers relevant to any entry in such books of account] shall be preserved in good order:
Provided that in the case of a company incorporated less than eight years before the current year, the books of account for the entire period preceding the current year 13[together with the vouchers relevant to any entry in such books of account] shall be so preserved.]

[gopalji]

Abstract from the judgement delivered in the case of COMMISSIONER OF INCOME TAX-XII Versus SMT. POONAM RANI, 2010 -TMI - 76014 - HIGH COURT OF DELHI

"No statutory provision under the Income Tax regime requiring the assessee to maintain the Daily Stock Register has been brought to our notice. Hence, even if no such register was being maintained by the assessee as is contended by the learned counsel for the appellant, that by itself does not lead to inference that it was not possible to deduce the true income of the assessee from the accounts maintained by her, nor the accounts can be said to be defective or incomplete for this reason alone. If stock register is not maintained by the assessee that may put the Assessing Officer on guard against the falsity of the return made by the assessee and persuade him to carefully scrutinize the account books of the assessee. But the absence of one register alone does not amount to such a material as would lead to the conclusion that the account books were incomplete or inaccurate."