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2020 (8) TMI 73 - HC - Income TaxValidity of proceedings u/s 158BD - non recording satisfaction note for issuing notice under Section 158BD - HELD THAT:- This appeal cannot be pursued by the Revenue in the light of the Board's circular in Circular No.24/2015 dated 31.12.2015. In the said circular, it has been stated that the guidelines of the Hon'ble Supreme Court in the case of M/s.Calcutta Knitwears [2014 (4) TMI 33 - SUPREME COURT] with regard to recording any satisfaction note were brought to the notice of all for strict compliance and it has been clarified that even if the AO of the searched person and the 'other person' is one and the same, then also, he is required to record his satisfaction as has been held by the Courts. As clarified that filing of appeals on the issue of recording of satisfaction note should also be decided in the light of the said judgment. Taking note of the said decision, the Board directed that pending litigation with regard to recording of satisfaction note under Section 158BD/153C of the Act should be withdrawn/not pressed if it does not meet the guidelines laid down by the Hon'ble Apex Court. - Decided against revenue.
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