https://www.taxtmi.com/circulars?id=4803 The Act grants bond-holders a statutory non-disclosure privilege under section 3(1)(a) and bars inquiries based on acquisition under section 3(1)(b), subject to section 3(2) exceptions. Section 4 provides that subscription or acquisition shall not be taken into account for Income-tax, Wealth-tax and Gift-tax proceedings; officers must ignore claims that concealed income was invested in Bonds, cannot inventory or seize Bonds during searches or surveys, and must not accept Bonds in satisfaction of tax arrears. en-us Fri, 01 Jan 1982 00:00:00 +0530 Sat, 02 Aug 2008 17:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4803 The Act grants bond-holders a statutory non-disclosure privilege under section 3(1)(a) and bars inquiries based on acquisition under section 3(1)(b), subject to section 3(2) exceptions. Section 4 provides that subscription or acquisition shall not be taken into account for Income-tax, Wealth-tax and Gift-tax proceedings; officers must ignore claims that concealed income was invested in Bonds, cannot inventory or seize Bonds during searches or surveys, and must not accept Bonds in satisfaction of tax arrears. Circulars Income Tax Fri, 01 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4803