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of <h1>Amendments to Section 132 of Income-tax Act expand search powers, include new locations, and introduce asset handling procedures.</h1> The amendments to Section 132 of the Income-tax Act, 1961, introduced by the Taxation Laws (Amendment) Act, 1975, expand the authority for conducting searches and seizures. They empower additional officers, such as Deputy Directors and Inspecting Assistant Commissioners, to authorize searches. The scope of search locations now includes vessels, vehicles, and aircraft. New provisions allow searches of individuals suspected of concealing undisclosed assets. The amendments also introduce presumptions about the ownership and authenticity of seized items and documents. Additionally, they stipulate procedures for handling seized assets, including determining interest and penalties, and align search procedures with the Code of Criminal Procedure, 1973.
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