#section 132
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Section 132 – Assessing Officer has no authority to seize stock-in-trade
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Statement under section 132(4) can be retracted
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Not necessary to issue S.132 authorisation or make a requisition u/s. 132A separately in the name of each person in search cases
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Search without satisfaction of ingredients of S. 132(1) is illegal and consequently Notice action U/s. 153A of the Act is also bad in law
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Cash seized should be adjusted advance-tax liability from the date of seizure
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Prior scrutiny of accounts before referring them for special audit is sine qua-non and if the same has not been done the direction for special audit is bad in law and hence assessment framed becomes nullity
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Penalty imposable on Income declared in revised return filed after detection of concealment
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S. 158BD proceedings without recording written satisfaction void. Statement recorded in search cannot form sole basis for s. 158BD addition
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Statement taken u/s. 133A during survey cannot have same value as evidence recorded during search u/s 132(4)
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CBDT directed to re-opening of all cases under the search and seizure label and those claimed deduction u/s. 80IB, 80A
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