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| 42 | Voice of CAExplanation to this clause also further clears that serving of restraint orderas aforesaid under this subsection shall not be deemed to be seizure underclause 132 (1)(iii).Limitation of section 132(3): An order u/s 132(3) shall be valid upto sixtydays from the date of the order. (section 132(8A)Person defaulting in second proviso to clause (3) of section 132 shall bepunishable with rigorous imprisonment which may extend to 2 years andshall be liable to fine also. (Section 275A)Gems of Judiciary1. MAA VAISHNAVI SPONGE LTD. V. DGIT (INVESTIGATION)[2011] 339 ITR 0413 (ORI). - The issuance of prohibitory orders u/s132(3) in respect of current bank accounts, savings bank accounts, cashcredit accounts, loan accounts, overdraft accounts, recurring depositaccounts, personal accounts or any other accounts duly passed throughregular books of account are not valid.2. M/s VISA COMTRADE LIMITED Vs UNION OF INDIA ANDOTHERS, 2011-TIOL-546-HC-ORISSA-IT - Prohibitory order issuedunder subsection (3) of Section 132 of the Act in respect of CurrentAccount in question without forming any belief and/or without anymaterial to conclude that the amount deposited in the said CurrentAccount is either wholly or partly undisclosed income of the petitioneris unsustainable in law.3. Rakesh Sarin V. DCIT [2011] 333 ITR 0451 [Mad] see also CIT v. White& White Mineral P. Ltd. SLP dismissed filed by the department[2010] 322 ITR (St) 4. - Lifting prohibitory order after 60 days doesnot amount to continuation of search and therefore date of such ordershould not be taken in to accounts for ascertaining date of execution oflast warrant of authorization.H. Examination on Oath, Section 132 (4)The Authorised Officer may, during the course of the search or seizure,examine on oath any person who is found to be in possession or controlof any books of account, documents, money, bullion, jewellery or othervaluable article or thing and any statement made by such person duringsuch examination may thereafter be used in evidence in any proceedingunder the Indian Income Tax Act, 1922 (11 of 1922), or under this Act.