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2011 (5) TMI 416 - HC - Income TaxSearch and seizure - Block assessment - Undisclosed income - The conditions precedent for invoking the provisions of s.158BD, thus, are required to be satisfied before the provisions of the said chapter are applied in relation to any person other than the person whose premises had been searched or whose documents and other assets had been requisitioned under s.132A of the Act - whether any such satisfaction of the assessing officer of Manoj Aggarwal is perceivable from the record - it is vivid that for the purpose of initiation of block assessment proceeding against a third person in respect of whom search has not been conducted certain conditions precedents are to be followed and they are mandatory - the said finding of the tribunal has been given the stamp of approval by the High Court. - The appeals are dismissed - Decided in favor of assessee and against the revenue.
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