https://www.taxtmi.com/caselaws?id=14042 Initiation of block assessment proceedings under s.158BD r/w s.158BC was challenged on the ground that, in a search of third parties, no books, documents, or assets belonging to the assessee were found, and hence no "satisfaction" could exist regarding undisclosed income. The HC held that absence of seized material belonging to the assessee does not bar action under s.158BD, as "undisclosed income" includes income evidenced by entries/documents not disclosed under the Act, and at the notice stage the AO need not reach firm or conclusive satisfaction. On facts indicating alleged accommodation/bogus transactions revealed in the search and disclosures, the initiation was neither without jurisdiction nor illegal; the writ petition was dismissed. en-us Wed, 27 Dec 2000 00:00:00 +0530 Mon, 05 Jan 2026 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14042 Initiation of block assessment proceedings under s.158BD r/w s.158BC was challenged on the ground that, in a search of third parties, no books, documents, or assets belonging to the assessee were found, and hence no "satisfaction" could exist regarding undisclosed income. The HC held that absence of seized material belonging to the assessee does not bar action under s.158BD, as "undisclosed income" includes income evidenced by entries/documents not disclosed under the Act, and at the notice stage the AO need not reach firm or conclusive satisfaction. On facts indicating alleged accommodation/bogus transactions revealed in the search and disclosures, the initiation was neither without jurisdiction nor illegal; the writ petition was dismissed. Case-Laws Income Tax Wed, 27 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14042