Income Tax Department’s Survey vs. Search
On 14th February, 2023, the Income Tax (I-T) Department conducted surveys at the premises of the British Broadcasting Corporation (BBC) in Delhi and Mumbai.
About I-T Survey
- Survey operations constitute an extremely important tool for gathering relevant information by visiting the premises of the assessee, which is subsequently utilized in the assessment and other proceedings under the Income Tax Act, 1961.
- The provisions of `Survey’ as contained u/s 133A of the Act was not on the statute in the initial Income Tax Act, 1961.
- However subsequently the provisions were inserted by Finance Act, 1964.
- Subsequent amendments were made, majorly in ....
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