TMI Blog2012 (10) TMI 1053X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal dated 28.05.2008 passed in IT (SS) A.No.38/Bang/2004 and also the rejection of Miscellaneous Petition filed by the appellant in M.P. NO.84/BANG/2008 dated 13.03.2009. 2. The facts leading to this appeal are as under: A search was conducted by the Revenue on the house of one M.M. Meharwade and a huge cash was found in the house. It was contended by M.M.Meharwade that a sum of ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessing Authority to satisfy himself to issue notice to the assessee. More than an year time was granted to the revenue. Inspite of such an opportunity, the revenue did not produce the satisfaction recorded by the Assessing Officer. Therefore the Tribunal drawing an adverse inference allowed the appeal of the assessee and set aside the order of assessment. 4. Thereafter a Miscellaneous Petitio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing Officer, wherein satisfaction has been recorded before issuing notice under Section158BC r/w 158BD of the Act and consequently recorded a perverse finding? 6. We have heard the counsel for the parties. We have also seen the copy of the satisfaction recorded by the Assessing Officer, which reads as hereunder: There was search and seizure of the house of Shri M.M. Meharwade. In the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e same. Even in this appeal, no explanation is offered except stating that reasons were recorded. When there is no explanation offered by the Revenue for non production of the document before the Tribunal for more than an year and having held that reasons recorded would not constitute satisfactory reasons, we do not see any merits in this appeal. Accordingly, the question of law framed is answered ..... X X X X Extracts X X X X X X X X Extracts X X X X
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