https://www.taxtmi.com/caselaws?id=267623 The court emphasized the importance of satisfying specific conditions under Section 158BD of the Income Tax Act, 1961, for undisclosed income of another person. In a case where the Assessing Officer failed to record satisfaction for the searched person, the assessment under Section 158BC/158BD was deemed legally invalid and quashed. The Tribunal's decision was upheld, highlighting the necessity of complying with statutory requirements, particularly the recording of satisfaction under Section 158BD, to initiate assessments related to undisclosed income of another person. en-us Tue, 01 Sep 2015 00:00:00 +0530 Mon, 09 Nov 2015 21:44:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267623 The court emphasized the importance of satisfying specific conditions under Section 158BD of the Income Tax Act, 1961, for undisclosed income of another person. In a case where the Assessing Officer failed to record satisfaction for the searched person, the assessment under Section 158BC/158BD was deemed legally invalid and quashed. The Tribunal's decision was upheld, highlighting the necessity of complying with statutory requirements, particularly the recording of satisfaction under Section 158BD, to initiate assessments related to undisclosed income of another person. Case-Laws Income Tax Tue, 01 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267623