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2015 (11) TMI 432 - PUNJAB & HARYANA HIGH COURTValidity of assessment under section 158BC - non recording of proper reasons - Held that:- In the present case, the Tribunal after considering the entire material on record correctly noticed that since the Assessing officer of the searched person had not recorded any satisfaction as contemplated under section 158BD of the Act, the satisfaction recorded by the Assessing Officer of the assessee on 24.8.2001 before issuing notice under section 158BD on 4.8.2001 could not be said to be legally valid requisite satisfaction. - Decided in favour of assessee.
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