TMI Blog2011 (2) TMI 910X X X X Extracts X X X X X X X X Extracts X X X X ..... ed persons were not produced before the Tribunal, in absence of which the Tribunal assumed that the requisite satisfaction had not been recorded - the matter will require fresh consideration by the Tribunal after taking into account the orders of block assessment - I.T.A. No.162 of 2010 - - - Dated:- 24-2-2011 - MR. JUSTICE ADARSH KUMAR GOEL, MR. JUSTICE AJAY KUMAR MITTAL, JJ. Ms. Urvash ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dings u/s 158BD of the Income Tax Act, 1961 in the case of the assessee? II. Whether, on the facts and in the circumstances of the case, the Ld. ITAT was right in law in holding that in the absence of recording of satisfaction in the file of the person searched, the assessment made in the hands of this assessee on the basis of notice issued u/s 158BD without recording necessary satisfaction i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in law in allowing appeal of the assessee and not confirming the order of the Assessing Officer? 2. On receiving information about tax evasion, a search was conducted on 14.8.1996 by the Income Tax Department on a Group of companies which included on M/s Manu Finlease Ltd., M/s Goodwill Investment and M/s Glory Securities. The assessee is director of M/s Glory Securities. M/s Goodwill Investm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... venue submits that the Assessing officer was satisfied that proceedings against the assessee were required as a result of material seized during search and the order of assessment itself indicated the said material. It is further submitted that even in proceedings for assessment of the searched persons namely M/s Goodwil Investment and M/s Glory Securities, satisfaction has been recorded. Copies o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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