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2014 (6) TMI 1016 - HC - Income TaxBlock assessment for undisclosed income u/s 158BD - mandatory requirement before initiating proceedings u/s. 158BD - Held that:- Referring to case of Manish Maheshwari [2007 (2) TMI 148 - SUPREME COURT OF INDIA] satisfaction recorded by the assessment officer that any undisclosed income belonging to any person other than the person with respect to whom search was made under Section 132 is available. This recording of satisfaction is a mandatory requirement. From the observations and law laid down in the case of Manish Maheshwari [2007 (2) TMI 148 - SUPREME COURT OF INDIA] it is clear that recording of reason is a mandatory requirement as contemplated under Section 158BD. That being so, we see no error in the order passed by the Tribunal that recording of reasons is mandatory provision. As far as alternate submission to the effect that in the present case communications available do show that reason we are not impressed from the aforesaid contention. They are only communication of certain fact with regard to issue in question but there is no specific recording of reason for re-opening of the block under Section 158 BD. - Decided in favour of assessee
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