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Survey, Search & Seizure | 47 |This provision will take effect retrospectively from 1.10.1975.Section 132(4A) allowed to continue on the Statute books even afterinsertion of new sec. 292CS.No Remarks Section 132(4A) Section 292C1. Chapterno. &ChapterHeadingXIIIC“Power of Income Tax authorities”(including the power of search &seizure u/s 132 & requisition u/s132A)2. Scope Courts have held it to be not forframing assessment & its limitedutility to be for making provisionalestimate of liability for tax, penaltyetc. Under the erstwhile sec. 132(5) ofthe Act.XXIII“Miscellaneous”“ in anyproceedingsunder the Act”still to face judicialscrutinyP. Section – 292CC [Newly inserted w.e.f. 1 st April, 1976] Inserted byfinance Act, 2012 in chapter XXIII.(1) Notwithstanding anything contained in this Act,––(i) it shall not be necessary to issue an authorisation under section 132or make a requisition under section 132A separately in the name ofeach person;(ii) where an authorisation under section 132 has been issued orrequisition under section 132A has been made mentioning thereinthe name of more than one person, the mention of such names ofmore than one person on such authorisation or requisition shallnot be deemed to construe that it was issued in the name of anassociation of persons or body of individuals consisting of suchpersons.(2) Notwithstanding that an authorisation under section 132 has beenissued or requisition under section 132A has been made mentioningtherein the name of more than one person, the assessment orreassessment shall be made separately in the name of each of thepersons mentioned in such authorisation or requisitionwww.taxguru.in