https://www.taxtmi.com/caselaws?id=10034 The court quashed the notices issued under section 158BD of the Income-tax Act, 1961, as the proceedings did not meet legal requirements. It emphasized compliance with legal procedures, the necessity of the Assessing Officer's satisfaction before initiating actions, and the requirement of a valid "reason to believe" for assessing undisclosed income. The judgment underscored adherence to the provisions of sections 158BD and 158BC to ensure the legality of assessments related to undisclosed income, ordering lawful action based on valid evidence in the future. en-us Tue, 05 Oct 2004 00:00:00 +0530 Mon, 06 Jul 2009 15:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10034 The court quashed the notices issued under section 158BD of the Income-tax Act, 1961, as the proceedings did not meet legal requirements. It emphasized compliance with legal procedures, the necessity of the Assessing Officer's satisfaction before initiating actions, and the requirement of a valid "reason to believe" for assessing undisclosed income. The judgment underscored adherence to the provisions of sections 158BD and 158BC to ensure the legality of assessments related to undisclosed income, ordering lawful action based on valid evidence in the future. Case-Laws Income Tax Tue, 05 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10034