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2004 (10) TMI 27 - HC - Income TaxIssuance of notices by the Assessing Officer under section 158BD - 'reasons to believe' before issuing notice - search and seizure of the books of account - it is very clear that no satisfaction was recorded before issuance of notice - Even it is not stated in the affidavit in reply that the Assessing Officer was satisfied and hence issued notice. On the contrary, it reveals that to arrive at a satisfaction, notice was issued and that is clear from the affidavit of the Assessing Officer. It may be noted that the property which is referred to for initiating proceedings has already been disclosed in the return of income - this court is of the opinion that the proceedings are not in accordance with law and, therefore, are required to be quashed. However, it goes without saying that if there is any material, the Department can take action in accordance with law
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