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2010 (8) TMI 708 - HC - Income TaxSearch and seizure - undisclosed deposit in the bank account - karta of the assessee in his statement surrendered the amount for being taxed, Accordingly, Assessing Officer assessed the amount as undisclosed income. On appeal, the addition was deleted, inter alia, on the ground that there being no search warrant in the name of the assessee, the provisions of section 158BC of the Act were not attracted - Revenue challenges the finding recorded by the Tribunal as erroneous in law by submitting that the order under section 158BC was justified even in the absence of search warrants being in the name of the assessee – Held that:- satisfaction was recorded before completion block assessment of the person searched. The Assessing Officer, was thus, justified in proceeding under section 158BD, even though the said section has not been mentioned in the order of block assessment. The judgments relied upon by learned counsel for the assessee are distinguishable as therein satisfaction was not recorded in terms of section 158BD of the Act. In Manish Maheshwari (2007 - TMI - 40384 - SUPREME Court), if satisfaction is duly recorded, the person other than the searched person can also be proceeded against under section 158BD of the Act. Accordingly, the question has to be answered in favour of the Revenue and against the assessee. appeals are allowed and order of the Tribunal is set aside.
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