Conversion of Income Tax Survey Into Search: No Hasty and Slipshod Approach
- Blog|News|Income Tax|
- < 1 minute
- By Taxmann
- |
- Last Updated on 14 January, 2022
Latest from Taxmann
Ashish Parashar – [2022] 134 taxmann.com 127 (Article)
As we head towards the third wave of this never-ending Covid-19 Pandemic and in the midst of the upcoming elections to be held in different parts of the country next month, the most common news hitting the professional circuits nowadays is that of “Income Tax Searches” regularly conducted on large business houses u/s 132 of the Income Tax Act, 1961 (The “Act”) and various Surveys u/s 133A of the Act conducted on such associates and entities having close nexus with the person(s) so searched u/s 132.
Hence, it remains an important question in the mind of the assessees at large to understand that whether the Income Tax Department within its power, can convert the Income Tax Surveys u/s 133A into Search Proceedings u/s 132 of the Act and the legal provisions in this regard.
In this article, the author has tried to encompass the practical aspects to demonstrate on the cited subject as to whether the survey proceedings u/s 133A can be converted into search proceedings u/s 132.
Click Here to Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Sign Up
To subscribe to our weekly newsletter please log in/register on Taxmann.com
Latest Books
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
