https://www.taxtmi.com/caselaws?id=64335 The Tribunal ruled that a search cannot be conducted on non-existent companies, and notices under section 158BC cannot be issued to non-existent entities. It was held that disclosed transactions cannot give rise to undisclosed income, and the conditions for applying section 92 were not met in a share sale transaction. The Tribunal disallowed invoking section 93 for the first time and confirmed that defects in notices under section 158BC do not invalidate assessments. The appeal of the assessee was partly allowed, and the Revenue's appeal was dismissed, with disclosed transactions not considered undisclosed income in block assessments. en-us Fri, 24 Mar 2006 00:00:00 +0530 Sat, 30 Jun 2012 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64335 The Tribunal ruled that a search cannot be conducted on non-existent companies, and notices under section 158BC cannot be issued to non-existent entities. It was held that disclosed transactions cannot give rise to undisclosed income, and the conditions for applying section 92 were not met in a share sale transaction. The Tribunal disallowed invoking section 93 for the first time and confirmed that defects in notices under section 158BC do not invalidate assessments. The appeal of the assessee was partly allowed, and the Revenue's appeal was dismissed, with disclosed transactions not considered undisclosed income in block assessments. Case-Laws Income Tax Fri, 24 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64335