Search & Seizure

Search & Seizure

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Search & Seizure

Search operations are exploratory exercises on the basis of information with the income tax department to find hidden income and wealth in cases of tax payers, who have not disclosed their true financial state of affairs in discharge of their tax obligations.

Seizure implies taking possession of assets, which have not been disclosed to the Income-tax Department and of accounts/documents, papers which contain details of unaccounted wealth/income not disclosed to the income tax authorities.

Thus, search and seizure are a very powerful weapon in the armoury of income tax department to unearth any concealed income or valuables and to check the tendencies of tax evasion thereby mitigating the generation of black money.

A raid gets triggered under any of the following circumstances:

  • Credible information of tax evasion; for instance, any evasion coming out of reports received from the Intelligence Wing of the Income tax department.
  • Information coming from government departments.
  • Information procured from assessment records of taxpayers.
  • Information received with regard to spending being disproportionate to income of the taxpayer i.e. an instance of lavish spending without corresponding income to match the same.
  • Manipulation of books of accounts, vouchers, invoices etc.
  • Illegal investment in real estate.
  • Unexplained cash credits, share transactions etc.

One can lawfully avoid a tax raid by being compliant in terms of responding to summons and notices sent to him by the department and also refrain from keeping money, property undeclared.

Would you require support from our professional team on notices from Income tax department? Get in touch with our expert for more details.

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