Power of Survey allows entry and inspection of business premises to inspect books and verify assets under tax code. The prescribed income-tax authority may enter business premises on suspicion of non-compliance during business hours, require inspection of books and documents, verify cash, stock or valuables, and compel relevant information. The authority may mark records, take extracts, impound records with recorded reasons, inventory assets, and examine persons on oath; recorded statements are admissible. The authority cannot remove cash, stock or valuables and may not retain impounded records beyond one month without Commissioner approval. Enforcement powers apply to secure compliance with inspection, verification and statement recording. 'Proceeding' covers completed, pending or future proceedings for the year.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Power of Survey allows entry and inspection of business premises to inspect books and verify assets under tax code.
The prescribed income-tax authority may enter business premises on suspicion of non-compliance during business hours, require inspection of books and documents, verify cash, stock or valuables, and compel relevant information. The authority may mark records, take extracts, impound records with recorded reasons, inventory assets, and examine persons on oath; recorded statements are admissible. The authority cannot remove cash, stock or valuables and may not retain impounded records beyond one month without Commissioner approval. Enforcement powers apply to secure compliance with inspection, verification and statement recording. "Proceeding" covers completed, pending or future proceedings for the year.
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