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TMI BlogSearch & Seizure work/block assessments-matters relating theretoX X X X Extracts X X X X X X X X Extracts X X X X ..... e 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) should be clearly spelled out. ii. Proper care should be taken for taking back up o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 between assessment wing and investigation wing and minutes of the same should be recorded. xii. Due opportunity should be given to the assessee by the supervisory officer giving approv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 19. Assessed income with date of order 20. Tax liability on assessed income. 21. Details of adjustment from PD account, after completion of block assessment with date 22. Whether case processed for launching prosecution and details of prosecution if any, launched. This register, in respect of all the pending assessments where search condu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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