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2011 (5) TMI 464 - AT - Income TaxSatisfaction for issue of notice under section 158BD - Section 158BD provides for assumption of jurisdiction to make a block assessment in the case of a person not searched and against whom no proceedings have till then been initiated. Can it be said that such jurisdiction can be assumed without recording satisfaction? - Held that:-the material examined shows that the undisclosed income pertains to some other person- AO has to give a finding to this effect after an honest appreciation of the seized material with an objective mind - the recording of such satisfaction is impliedly to be done in the course of the section 158BC proceeding as the satisfaction has to be recorded only by the Assessing Officer making the block assessment. - In view of the binding decision of the Delhi Special Bench of the Tribunal in Manoj Aggarwal v. Dy. CIT (2008 -TMI - 63312 - ITAT DELHI-A) and as the Assessing Officer has not recorded the satisfaction for issue of notice under section 158BD, prior to completion of assessment, the issue of notice under section 158BD is bad in law - Decided in favor of assessee.
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