Retention of the seized books of accounts- Section 132(8) of Income-tax Act, 1961

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....ers of Income Tax, including Central Charges Sir, Sub : Retention of the seized books of accounts- Section 132(8) of Income-tax Act, 1961 - precaution regarding.  The Board had issued instructions on the subject of approval of the commissioner of Income Tax for the continued retention of books of accounts beyond 180 days from time to time. The question came up before their l....

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.... did not fix any time limit for such communication it observed that communication must be as expeditious as possible after the passing of the order of approval by the Commissioner and in default of such expeditious communication, according to the court, any further retention of the seized books or documents would become invalid and unlawful. 2. In the circumstances, it is necessary that the scr....

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....ax Officer before the expiry of the period 180 days or the previously approved retention period as the case may be. In turn, the authorised officer/Income Tax Officer concerned should communicate the factum of approval as well as the reasons recorded by the commissioner of Income Tax to the assessee without any loss of time and in any case not later than 30 days after the expiry of the said period....