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Search Seizure and Survey (Under Income Tax Law) (AlongWith Special Chapters On Appeal And Settlement) (As Amended by Finance Act, 2017)

Search Seizure and Survey (Under Income Tax Law) (AlongWith Special Chapters On Appeal And Settlement) (As Amended by Finance Act, 2017)

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Description
The problem of unaccounted money, commonly referred to as black money has been a source of concern to the successive Governments. The present Government has taken certain pragmatic and bold decisions in recent times to get rid of this menace. Tax evasion is indeed widespread in India resulting in generation of black money. Accordingly the Income-tax Act contains provisions which authorize the Income-tax officials to embark upon search and seizure operation or undertake a survey and such powers are by far the most potent weapons in the hands of the income-tax administrators to be exercised with utmost caution to unearth black money and counter evasion of taxes. Ideally speaking there would be no need for such drastic powers had the tax payers been honest and truthful in disclosing their income and wealth. But in a country riddled with widespread tax evasion by everyone - from an ordinary salary earner to the largest industrial conglomerate - one cannot envisage a law without such drastic powers. There is every likelihood of such powers being misused and accordingly the law has hedged these powers with several pre-conditions and in addition the Executive as well as the Judiciary have, over the years evolved various ground rules with a view to safeguard the rights of innocent citizens. This book explains the law and procedure relating to searches, seizures and surveys and is a ready referencer for the tax payers as well as tax administrators. It also deals with provisions relating to appeals as well as settlement of tax disputes. This Tenth edition incorporates the changes made by Finance Act, 2017 and the case law reported up to the end of February, 2017.
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Contents
Chapter 1.    Historical Background
Chapter 2.    Validity of Power of Search and Seizure
Chapter 3.    “Reason to Believe” 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
Chapter 29.  Appeal to High Court
Chapter 30.  Income-Tax Ombudsman Scheme
Appendix
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Author's Details
Late Shri. S. R. Kharabanda
was a retired Commissioner of Income – tax who served in the aforementioned capacity at Shillong, Kanpur, Lucknow, Patna and Agra. He also worked as a Regional Director, Company Law Administration, Northern India. After retirement he was practicing as advocate and tax consultant and had been retained as a taxation and financial advisor by a number of companies. An M.A. in Mathematics he also topped the LLB Examinations of Kanpur University and was awarded the Chancellor’s medal. He was on the editorial board of the journals. “Taxation”, “Taxman” and “Judgment Today”. He was extensively written on taxation and allied subjects in professional and economic journals. He was also author of the book “Search & Seizure under Income Tax Law” and co-author of the book “Tax Deduction & Collection at Source” with Shri Arun Kharabanda. He has also rewritten the fourth edition of the book “Income Tax Pleadings, Practice and Procedure”.
V. Gopalan, an Advocate since 2001, is a career legal journalist with over four decades of rich and varied experience with legal journals like Taxation, Chartered Secretary, Judgments Today, Tax & Corporate Referencer, Current Tax Com News and Company Law Journal. He has been editing Chartered Secretary, the prestigious monthly journal of ICSI for nearly forty years. He held the position as Director of Publications at the Institute of Company Secretaries of India prior to his voluntary retirement. He is also on the panel of Editors of ICAI and has edited a large number of research and professional publications and study materials. He has to his credit over two hundred and fifty articles on different aspects of law, particularly taxation and corporate laws published in all leading law journals. He is the Co-author of Tax Practice Manual' (published twice) and lead co-author of the second edition of All India VAT Digest (Four Volumes) published in 2015. He is also the Revising Author/Co-author of several other professional books on law.
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