https://www.taxtmi.com/caselaws?id=377610 The court ruled in favor of the assessee in a case concerning the mandatory recording of satisfaction by the Assessing Officer under Section 158BD of the Income Tax Act for undisclosed income belonging to a person other than the one searched. The court emphasized the necessity of the Assessing Officer preparing a satisfaction note before proceeding against the other person and handing over seized documents. As no such satisfaction note was prepared in this case, the court found the proceedings invalid, setting aside the assessment order and the Tribunal's decision in favor of the assessee. en-us Wed, 20 Mar 2019 00:00:00 +0530 Sat, 30 Mar 2019 14:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377610 The court ruled in favor of the assessee in a case concerning the mandatory recording of satisfaction by the Assessing Officer under Section 158BD of the Income Tax Act for undisclosed income belonging to a person other than the one searched. The court emphasized the necessity of the Assessing Officer preparing a satisfaction note before proceeding against the other person and handing over seized documents. As no such satisfaction note was prepared in this case, the court found the proceedings invalid, setting aside the assessment order and the Tribunal's decision in favor of the assessee. Case-Laws Income Tax Wed, 20 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377610