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......................................................................................................................... Book Description A comprehensive and critical study of the law relating to searches, seizures and surveys under Income Tax Act. Search and Seizure provisions under sections 132 and 132A and of Income Tax Act serve as important and effective tool or weapon in the hands of tax administration to curb tax evasion. These provisions need to be invoked and executed in accordance with the strict procedures and guidelines laid down in the rules and circulars of the CBDT, so that they do not become a tool of oppression and harassment to the taxpayer who has also to appreciate the onerous and unpleasant tasks entrusted to the revenue officers in the course of official duties. A major change in assessment procedure was introduced for searches initiated under Section 132 or requisitions under Section 132A on or after 1st June, 2003 by inserting Sections 153 A, 153B and 153C. The assessments for these actions under Section 132 or 132 A on or after 1st June, 2003 have to be made under normal procedures under Section 143,144 or 148 and penalties, if any, are to be invoked under Section 271. Later by insertion of Section 153D, prior approval of the orders of assessment or re-assessment have to be obtained from Joint Commissioner in case these are passed by Assessing Officers below the rank of Joint Commissioner. A new penalty provision under Section 271AAA excluding S. 271 (1)(c) was introduced by Finance Act, 2007 for searches or requisitions initiated on or after 1 st June, 2007, Penalty is leviable at ten per cent of the income of the specified previous year. Explanation 5 A was simultaneously inserted inSection 271 (1)(c). Presumption under Section 292C inserted by Finance Act, 2007 as modified by Finance Act, 2008 has extended presumption under Section 132(4A) to books of account, documents or assets found or delivered under Survey under section 133A or requisitions under Section 132A. Presumption extends to all proceedings under the Act about the ownership and genuineness of the books or assets etc. We have analysed and discussed the special assessment procedure covering searches and requisition on or after 1 -6-2003 and also noticed the retrospective amendments inserted by Finance Act, 2005 in our special chapter. Annual information returns under Section 285BA as substituted by Finance (No.2) Act, 2004 and quarterly returns by banks etc. as per Section 206A inserted under Finance Act, 2005 constitute fresh measures to strengthen internal survey machinery of Income Tax Department and have been specifically analysed in detail in a separate chapter. This edition covers all changes made upto Finance Act, 2008 with latest case laws, Survey provisions under sections 133, 133A and 133B cover a much larger and broader source for collecting vital and detailed data and information regarding the income earned, the expenditure incurred and the investments made by taxpayers. In fact with the computerisation of various functions of Income Tax Department, internal survey does play a very effective role in and tax evasion activities, and therefore, an in-depth evaluation of survey and search provisions has been attempted to consider their rationale and effectiveness with suggestions for certain modifications therein. ......................................................................................................................... Contents Chapter 1. Historical Background Chapter 2. Validity of Power of Search and Seizure Chapter 3. “Reason to Belive” and Search Procedures Chapter 4. Deemed Seizure and Restraint Chapter 5. Recording of Statement During Search Operation: Section 132 (4) Chapter 6. Presumption about Book or Assets Seized Chapter 7. Appropriation of Assets Retained : Section 132B Chapter 8. Retention of Seized Books after Search Chapter 9. Requisition of Books, Documents or Assets, etc. – Section 132A Chapter 10. Special Assessment Procedure on or after 1-7-1995 before 1st June, 2003 Chapter 11. Amended Assessment and Recovery Procedure on or after 1-1-1997 but before 31-5-2003 Chapter 12. Special Procedure for Block Assessment of Search Cases under Chapter XIVB Chapter 13. Limitation for Completion of Assessment under Chapter XIVB – Section 158BE Chapter 14. Residuary Procedure for Block Assessment under Chapter XIV B Chapter 15. Present Assessment Procedure w.e.f. 1-6-2003 – Section 153A, 153B, 153C and 153D Chapter 16. Penalties Leviable in Search and Survey Cases Chapter 17. Application to Settlement Commission in Search Cases Chapter 18. Survey Chapter 19. Power to Call for Information – Section133 Chapter 20. Power of Survey : Section 133A Chapter 21. Power to Collect Certain Information - Section 133B, Section 134 and Section 135 Chapter 22. Internal Survey – Additional Measures for Collecting Information – Sections 285BA and 206A Chapter 23. Discovery, Production of Evidence, etc. Section 131 Chapter 24. Prosecution relating to Search and Survey Cases Chapter 25. A Critical Appreciation of Search and Seizure Provisions Chapter 26. A Critical Look at Survey Provisions and Annual Information Returns under Section 285BA Chapter 27. Appeal to Commissioner (Appeals) Chapter 28. Appeal to Appellate Tribunal Appendix .........................................................................................................................
