https://www.taxtmi.com/article/detailed?id=9524 The Performance Audit finds statutory gaps and systemic failures in income tax search and seizure assessments: non centralisation of group cases, inconsistent and inadequately justified additions, low appellate sustainability of additions, delays in handing over appraisal reports, failures to use or verify statements under section 132(4), incorrect tax and penalty handling, and poor inter agency information sharing. The audit recommends legislative amendments (to restrict set offs and cover bogus transactions), time limits for notices under section 153A/153C, tighter centralisation and monitoring, mandatory Action Notes/Narrative Reports, consistent use of section 132(4) statements, and strengthened information sharing and accountability mechanisms. en-us Mon, 26 Oct 2020 08:36:42 +0530 Wed, 11 Feb 2026 15:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9524 The Performance Audit finds statutory gaps and systemic failures in income tax search and seizure assessments: non centralisation of group cases, inconsistent and inadequately justified additions, low appellate sustainability of additions, delays in handing over appraisal reports, failures to use or verify statements under section 132(4), incorrect tax and penalty handling, and poor inter agency information sharing. The audit recommends legislative amendments (to restrict set offs and cover bogus transactions), time limits for notices under section 153A/153C, tighter centralisation and monitoring, mandatory Action Notes/Narrative Reports, consistent use of section 132(4) statements, and strengthened information sharing and accountability mechanisms. Articles Income Tax Mon, 26 Oct 2020 08:36:42 +0530 https://www.taxtmi.com/article/detailed?id=9524