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<h1>New Guidelines for Retention of Seized Materials Under Income Tax Act 1961: Ensure Traceability and Responsibility in Transfers.</h1> The Central Board of Direct Taxes has issued instructions regarding the retention of seized materials under the Income Tax Act, 1961. It has been observed that seized materials are sometimes untraceable during approval for their retention. The Competent Authority is directed to ensure that seized or impounded documents are physically handed over during transfers, with a handover note marked to the Competent Authority. In cases of loss, the Competent Authority must assign personal responsibility and inform the Board.