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2009 (9) TMI 28 - HC - Income TaxSearch and Seizure – Applicability of provisions of section 158BD in respect of block assessment – Held that - The proceedings under section 158-BD against a person other than the person raided are part of the proceedings which commence with search under section 132 and culminate in proceedings under Chapter XIVB of the Act and if at any stage the assessing officer is satisfied that any undisclosed income belongs to some other person, similar notice is to be issued to such person also. Hence it has been concluded that issuance of notice under section 158BD to a person other than the person raided need not wait till the completion of the proceedings under section 158BC against the person raided – regarding retention of books accounts, department has sought permission within time limit as prescribed – writ petition rejected – retention of books of account upheld – notice for block assessment sustained.
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