Income tax The aim of the bill, 2025, introduced in the Lok Sabha on 13 February 2025, is to change the Income Tax Act, 1961, while maintaining several basic provisions, simplifying the procedures. It introduces clear provisions that empowering and empowering officers to reach and seize virtual digital places and expand the “unknown income” to cover virtual digital assets. Income tax bill, 2025 selection committee has been sent Lok Sabha To investigate the Income Tax Bill, 2025 under the chairmanship of Bajayant Panda.
Subsequently, the authorities documentation of the objects seized through a panchnama. Historically, this provision has mainly focused on physical evidence: cash, jewelery, documents and similar tangible items.
This absence of clarity with interpretations in the court room, with such decisions SR Batliboi & Company Income Tax Department (2009), Where the High Court of Delhi heard a petition by an audit firm challenging the seizure of two of its laptops by tax authorities.
Whereas the court said, “Sub-section 132 (1) (IIB) (IIB) enabling the inspection of the books of the account puts a compulsion on the owner of the laptop to provide a department with a password”, it has been said that in an example, the practice of power has been formed by a roving inquiry and, therefore, “RESAMANTs (tax authorities) are directed.”
