https://www.taxtmi.com/caselaws?id=251108 A satisfaction note under section 158BD of the Income-tax Act is mandatory for proceeding against a person other than the searched person, but the statute does not require it to be recorded only before completion of the searched person's block assessment under section 158BC. The note may be prepared at initiation, during the search assessment, or immediately after its completion, and section 158BE(2)(b) governs only the time limit for completing proceedings against the other person. On that basis, recording the satisfaction note after completion of the searched person's block assessment did not invalidate the 158BD proceedings, and the matter was remanded to the Tribunal on the merits of the additions. en-us Wed, 27 Aug 2014 00:00:00 +0530 Thu, 04 Sep 2014 15:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251108 A satisfaction note under section 158BD of the Income-tax Act is mandatory for proceeding against a person other than the searched person, but the statute does not require it to be recorded only before completion of the searched person's block assessment under section 158BC. The note may be prepared at initiation, during the search assessment, or immediately after its completion, and section 158BE(2)(b) governs only the time limit for completing proceedings against the other person. On that basis, recording the satisfaction note after completion of the searched person's block assessment did not invalidate the 158BD proceedings, and the matter was remanded to the Tribunal on the merits of the additions. Case-Laws Income Tax Wed, 27 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251108