The utility of search and seizure under the Criminal Law found its way into the taxing statutes and fiscal laws. The legislature uses the power of search and seizure as a measure for prevention of evasion of tax. Though the action of search and seizure is never welcome, however their necessity and utility cannot be ignored. Under the Income tax law the provisions relating to search and seizure are very complex. Person being searched is expected to tackle the searching officers in a meaningful manner and also to help the departmental authorities to complete their task without compromising any one’s own legal rights. Sometimes it is seen that taxpayer not only misses the opportunity of explaining his case properly but also creates some new problems for himself by making admission of having earned certain income which he never had. Therefore, knowledge of both rights and limitations is necessary for the person being searched as well as for the department. The present book aims at fulfilling this need as it incorporates numerous practical tips for handling search and seizure proceedings tactfully. Incorporation of FAQs along with their suggested answers is another feature of this effort which would make it all the more useful in developing better understanding of law and procedure relevant to dealing with search cases.
The assessment procedure in search cases is provided in sections 153A to 153D. These have been discussed in detail with the help of several judgments delivered in the recent past. Post assessment consequences like levy of penalty for under reporting of income, invocation of prosecution process, filing of appeal against assessment, etc., have all been made part of this book so as to render it completeness and useful for all circumstances.
The subject matter is rather comprehensively covered in as many as 76 Chapters so as to systematically unfold it to the readers for their ultimate satisfaction and convenience. The main book is based on law in the wake of Finance Act, 2016. Incorporation of the conveyancing relating to search and seizure makes the book all the more user friendly.
The Income Declaration Scheme (IDS) which is currently open provides an opportunity to persons who have not paid full taxes in the past to come clean and declare their undisclosed incomes and pay tax, surcharge and penalty totaling in all 45% of the undisclosed income so declared. The applicability of IDS in search cases specific underreporting situations has also been a matter of confusion. There are however certain clarifications provided by the CBDT in this regard. One full chapter is specifically devoted to incorporate IDS angle vis-a-vis search cases.
Assessment year 2018-19 Supplement based as 2017 Budget is placed in the opening pages of this book to make it self sufficient in current terms.
We sincerely believe that this book will be useful not only to the tax professionals and tax administrators but also to harassed taxpayers. Though we have tried to make it an error free and quality publication, however, we shall remain grateful for any valuable and constructive suggestions from our esteemed readers towards improvement of any sort.