TMI Blog2014 (9) TMI 15X X X X Extracts X X X X X X X X Extracts X X X X ..... essee would be entitled to challenge initiation or validity of proceedings u/s 158BD of the Act - the block assessment proceedings were initiated by issue of notice u/s 158BD on 31st May, 1996 - after a lapse and delay of 16 years, it would not be possible for the Revenue to locate complete records, papers and file notings therein - There must have been a good and strong reason for the same – Decided in favour of revenue. - ITA 591/2004 - - - Dated:- 12-8-2014 - Sanjiv Khanna and V. Kameswar Rao,JJ. For the Appellant : Ms. Suruchi Aggarwal For the Respondents : Mr. C. S. Aggarwal ORDER Having heard counsel for the parties, we frame the following substantial question of law:- Whether the Income Tax Appellate Tribuna ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tated that she shall examine the provisions of the Income Tax Act and obtain instructions on the satisfaction recorded under Section 158BD. Thereafter, a number of adjournments were taken and on 13th September, 2013, a document dated 10th October, 1996, was handed over to the counsel appearing for the respondent-assessee. Reliance is placed on judgments of the Supreme Court in Commissioner of Income Tax Vs. Varas International P. Ltd., [2006] 284 ITR 80 (SC) and Union of India and Another Vs. British India Corporation Ltd. and Others, [2004] 268 ITR 481 (SC). 5. Before referring to the factual matrix and the observation of the Tribunal, we would first like to examine and refer to the decisions cited. In British India Corporation Ltd. and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not otherwise. 6. Whether or not the Assessing Officer had rightly and validly initiated proceedings under Section 158BD would depend upon whether the Assessing Officer of the person searched had recorded his satisfaction. Recording of satisfaction is a question of fact and not a question of law. We cannot go into the said question without ascertaining and recording a finding, whether the Assessing Officer of the person search had recorded a satisfaction note. It would be improper incorrect for this court to go into the said question by treating the contention as a pure question of law. The two decisions relied upon by the respondent-assessee do not assist or help them, but are rather against the assertion or the contention raised. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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