Amendment to Section 132B expands seized-asset treatment to include assessments under section 153A and block assessments. Amendment expands section 132B to treat seized-asset valuation as reflecting either assessment under section 153A (and the year relevant to the previous year of search or requisition) or the liability determined on completion of a block assessment; it also requires an application for release of seized assets within thirty days from the end of the month of seizure with explanation of nature and source, and inserts cross-reference to assessments under section 153A alongside block-assessment references.
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.
Amendment to Section 132B expands seized-asset treatment to include assessments under section 153A and block assessments.
Amendment expands section 132B to treat seized-asset valuation as reflecting either assessment under section 153A (and the year relevant to the previous year of search or requisition) or the liability determined on completion of a block assessment; it also requires an application for release of seized assets within thirty days from the end of the month of seizure with explanation of nature and source, and inserts cross-reference to assessments under section 153A alongside block-assessment references.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
