Voluntarily disclosed jewellery values matching seized assets can lead to immediate release

"While surveys related to tax are restricted to daytime, searches may occur at any hour," said SM Surana, chairman, direct taxation subcommittee, Bharat Chamber of Commerce, while speaking at a session titled "Navigating Legal Boundaries: Essentials of Search and Seizure" on Friday.

- ANWESHA SANTRA

The Bharat Chamber Ladies Forum, in collaboration with the Bharat Chamber of Commerce, hosted a special session featuring Surana and Advocate CA Ramesh Patodia as guest speakers.

In his address, Surana elaborated on the legal framework governing search and seizure under the Income Tax Act. He emphasised that searches are conducted only when authorities receive credible information on potential tax evasion, supported by documented reasons. "These operations may include associates or third parties but exclude lawyers and accountants unless explicitly requested by the taxpayer," he said.