Preparation of appraisal report - Income Tax - F. No. 414/69/2004-IT (lnv. I)

F. No. 414/69/2004-IT (lnv. I) Ministry of Finance Department of Revenue Central Board of Direct Taxes Date of Issue : 17.09.2004 Subject : Preparation of appraisal report Meeting of Directors General of Income Tax (Inv.) And Chief Commissioners of Income tax (Central) with Hon ble Finance Minister on 14-09-2004. Relevant extracts are given below: Appraisal Report One of the major causes of the poor image of the Investigation Wing was due to inordinate delays in preparation and forwarding of appraisal reports on the search and seizure operations. These delays occurred inspite of the fact that the Board has laid down a time limit of two months from the date of initiation of a search. It was pointed out that the assessees were being summoned repeatedly till they submitted to the point of view of the investigation officer. There was also a view that the present time limit of two months was barely sufficient to prepare summary of the report and detailed investigations will not be feasible. After considering both the points of view, it was decided that the report must be forwarded within two months of the initiation of the search. This may lead to the forwarding of two or more reports in a group if warrants are executed at different points of time.