Commercial’s Search & Seizure under Income-tax law as Amended by Finance Act, 2023 by Ram Dutt Sharma – 5th Edition 2023.

Commercial’s Search & Seizure under Income-tax law as Amended by Finance Act, 2023 by Ram Dutt Sharma – 5th Edition 2023.

About the book

One of the most important powers that the Income Tax Department possessee is the power of search and seizure. Tax authorities usually exercise their right to conduct raids on individuals or groups who are suspected of evading tax or who are deemed to be in possession of any property or income belonging to another party that has not been disclosed. While this might seem like a drastic step, it is an act that is upheld by the constitution, and is deemed entirely necessary in cases where the Income Tax Department feels extreme action is needed.

Search & seizure under Income tax law is a very vast subject in itself consisting of various issues, considerations, procedural aspects and litigation. An attempt is made in this book to give a overview of concept of search and procedures thereof. Some of the fine aspects of search proceedings are discussed in brief without into the nitty-g y of complexity of law and litigation involved. This book is easy reference and a what to do guide to deal with real life search cases under the Income tax Act, 1961. Book covers the journey from issuance of search authorization until the tax collection after the assessment of search cases. We sincerely hope that the book would be useful to the readers to have a general understanding of search & seizure under Income-tax law.

Section 132 of the Income Tax Act empowers certain Income-tax Authorities to carry out a search and seizure of books of accounts, documents, cash, jewellery, etc. Section 132A empowers certain Income tax authorities to requisition books of accounts, documents, etc.

Each chapter provides the introduction, conditions and other Requirements to be fulfilled. This book contains all aspects of Search & Seizure operation, the detailed scheme of assessment of search cases, various procedural compliances as well as consequences for non-compliance. We have made every effort to compile all the latest developments in the Field of Search & Seizure, which includes the prevalent law, its analysis, gist of Significant judicial pronouncements of various courts, Performa’s of Panchnama & various forms and Important Circulars/Notifications/Press Notes, in updating the law in this book. We hope that book will be found useful and will help in better understanding of the provisions of Law in respect of Search & Seizure under the Income Tax Law.

Finance Act, 2023 has made changes in the law of search & seizure and the provisions of the same have been incorporated at the appropriate places and updated case-laws have also been incorporated to make the book up to date.

Although, every effort has been made to support every information given in the book with the relevant sections and the rules of law, however, the book should not be construed as an exhaustive statement of law. The relevant previsions of the Income Tax Act and the Income Tax Rules, may be referred to, if necessary Though every care has been taken to provide authentic information yet the authors/publisher are not legally or morally responsible for any loss or damage that may arise to any person from an inadvertent error or omission in the book. I, however always welcome suggestions and criticism from our esteemed readers for further improvement of the future editions of the book.

I would like to place on record a special note of gratitude to Shri Ashok Kumar Manchanda, IRS, (1976-Batch) who has been the guiding force and a Constant source of inspiration in my life.

I also express my thanks to Commercial Law Publishers (I) Pvt. Ltd., Delhi, who Reposed confidence in me and published this book. They have done a good job in making this book attractive, acceptable and useful I am sure this ready book will be of immense practical value to tax authorities, tax practitioners, and the general public.

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