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of <h1>CBDT Circular Stresses Evidence Collection Over Admissions in Tax Searches Under Section 132(4) of Income Tax Act</h1> The circular from the Central Board of Direct Taxes emphasizes the importance of collecting evidence during search and seizure operations under Section 132(4) of the Income Tax Act, 1961, rather than relying solely on admissions of undisclosed income. It highlights that admissions without supporting evidence often fail to result in sustainable tax assessments, penalties, or prosecutions. The procedures for recording statements, ensuring they are comprehensive, evidence-based, and corroborated by material evidence. It also provides guidelines for conducting examinations, including administering oaths, documenting the process, and ensuring statements are recorded accurately and voluntarily. The circular aims to improve the effectiveness of tax investigations and compliance.
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