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2018 (10) TMI 1021 - AT - Income TaxJurisdictional fact for invoking jurisdiction u/s. 158BD - lack of necessary satisfaction - undisclosed income in issue belongs to an assessee other than the searched assessee - Held that:- AO lacks jurisdiction to initiate and pass orders in consequence to sec. 158BD of the Act, therefore, the impugned orders passed by the AO are null in the eyes of law and are, therefore, quashed - Additional ground challenging validity of the impugned sec. 158BD assessment proceedings framed in the instant case Sec. 158BD proceedings under challenge are quashed accordingly. See M/s S.K.S. Mercantile Pvt. Ltd. vs. ACIT [2018 (7) TMI 1088 - ITAT KOLKATA] - Decided in favour of assessee.
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