Search & Seizure work/block assessments-matters relating thereto

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.... part of officers concerned that all the works relating to search and seizure action and block assessments are carried out with full degree of objectivity and accountability in accordance with the provisions of law and instructions issued by the Board from time to time. In this regard, Board desires that the following actions should be strictly implemented: i. Statement under Sec 132(4) should be carefully recorded to collect and marshal the facts and evidences because it is the earliest opportunity to do so. Disclosure of undisclosed income in statement under Sec 132(4) without proper evidence in support thereof shall be adversely viewed. In the telex report, details of evidence in support of disclosure, if any under sec 132(4) sh....

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....of warrants to Assessing Officer two & a half months e. Notices under sec 158BC three months viii. Inspection of seized record and copies of statement(s) taken should be allowed within 15 days from the date of receipt of application in this regard. ix. Copies should be expeditiously examined for provisional attachment of assets under sec. 281B. x. The tendency to take up the assessment proceedings at a very late stage should be stopped. Same should be taken up immediately after expiry of time allowed for filing of return in Form 2B. xi. Wherever there is a major deviation between the income proposed to be assessed and the income estimated in appraisal report, the matter should be discussed bet....

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....ice u/s 158BC 11. Date of filing return for block assessment 12. Income disclosed in block return 13. Details of tax paid on income disclosed in block return 14. Adjustment from PD Accounts, if any against tax on income disclosed in block return 15. Date of application, if any, from the assessee making a claim that seized assets or part thereof are explained. 16. Details and date of decision on (15) above, as per newly inserted Section 132B 17. Date of first notice to take up block assessment proceedings and also details of subsequent notices/questionnaire/hearing etc. 18. Date(s) of hearing before Addl. CIT/Joint CIT required to grant approval to block assessment ....