retain sealed books

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 September 2010 Can the Income tax officer retain sealed books of accounts and other documents for more than a particular period. What is the legal position in this regard?

CA Sanat Pyne

CA Sanat Pyne (Expert)
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24 September 2010 Under Section 132 (8) of the Income-Tax Act, the Income tax officer has the power to retain the books of accounts and other documents seized by him for a period of 180 days. In case an extension of the said period is required an order is to be passed by Commissioner of the Income tax and if no such order is passed the Income tax officer is bound to release the books of account and other documents to the party.