https://www.taxtmi.com/caselaws?id=275610 The HC upheld the ITAT's decision, affirming that the statutory requirements under Section 158 BD were not fulfilled. The Court emphasized the necessity for the Assessing Officer to record satisfaction that undisclosed income belonged to a person other than the one searched, as mandated by the SC in Manish Maheshwari. The appellant's argument, referencing the Kerala HC's judgment, was dismissed. The communication cited by the appellant was deemed insufficient to meet the requirement of recording reasons for block assessments. Consequently, the appeal was dismissed, reinforcing the mandatory nature of compliance with procedural requirements under Section 158 BD for block assessments. en-us Thu, 26 Jun 2014 00:00:00 +0530 Sun, 22 Dec 2024 08:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275610 The HC upheld the ITAT's decision, affirming that the statutory requirements under Section 158 BD were not fulfilled. The Court emphasized the necessity for the Assessing Officer to record satisfaction that undisclosed income belonged to a person other than the one searched, as mandated by the SC in Manish Maheshwari. The appellant's argument, referencing the Kerala HC's judgment, was dismissed. The communication cited by the appellant was deemed insufficient to meet the requirement of recording reasons for block assessments. Consequently, the appeal was dismissed, reinforcing the mandatory nature of compliance with procedural requirements under Section 158 BD for block assessments. Case-Laws Income Tax Thu, 26 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275610