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2011 (7) TMI 727 - HC - Income TaxWhether proceedings under section 158BD of the Act would be valid where satisfaction recorded in the case of the assessee is after the block assessment proceedings under section 158BC of the Act in the case of the searched person had already been finalized - Assessing Officer of the person against whom action under section 132 or 132A of the Act has been taken, is the Assessing Officer who initiates the proceedings under section 158BD of the Act by recording satisfaction that any undisclosed income belongs to such other person so as to take action under section 158BD of the Act against that person - Held that: the action contemplated under section 158BD of the Act against a third party to a search, is necessarily to be during the course of block assessment proceedings under section 158BC of the searched person - Appeal is dismissed
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