Income-tax Act, 2025

Interpretation. - Section 261

Interpretation.

261. For the purposes of this Part,

(a) "approving authority" means

(i) the Principal Director General or the Director General; or

(ii) the Principal Chief Commissioner or the Chief Commissioner; or

(iii) the Principal Director or the Director; or

(iv) the Principal Commissioner or the Commissioner;

(b) "asset" includes any money, bullion, jewellery, virtual digital asset or other valuable article or thing, held in physical or virtual form;

(c) "authorised officer" means

(i) the Joint Director or the Additional Director; or

(ii) the Joint Commissioner or the Additional Commissioner; or

(iii) the Assistant Director or the Deputy Director; or

(iv) the Assistant Commissioner or the Deputy Commissioner; or

(v) the Income-tax Officer or the Tax Recovery Officer;

(d) "competent authority" means

(i) the Principal Director General or the Director General; or

(ii) the Principal Chief Commissioner or the Chief Commissioner; or

(iii) the Principal Director or the Director; or

(iv) the Principal Commissioner or the Commissioner; or

(v) the Joint Director or the Additional Director; or

(vi) the Joint Commissioner or the Additional Commissioner;

(e) "computer system" means computers, computer networks, computer resources, communication devices, digital or electronic data storage devices, used on stand-alone mode or part of a computer system, linked through a network, or utilised through intermediaries for information creation or processing or storage or exchange, and includes the remote server or cloud server or virtual digital space;

(f) "date on which the last of the authorisations for search was executed" means

(i) in the case of search, the date of conclusion of search as recorded in the last panchnama drawn in relation to any person in whose case the warra .... To read the full section download the app from Google Play store