https://www.taxtmi.com/caselaws?id=456256 ITAT Kolkata held that block assessment under section 158BD was invalid due to jurisdictional error. During search at UIC Group premises, no incriminating materials were found against appellant company. The AO having jurisdiction over UIC Group should have recorded satisfaction before initiating proceedings, but instead the AO with jurisdiction over the assessee recorded satisfaction. Court ruled this violated proper procedure as materials found during search were not handed over to correct jurisdictional AO. Following SC precedent in Manish Maheshwari and Gujarat HC in Champakbhai Mohanbhai Patel, ITAT reversed lower authorities' orders and allowed assessee's appeal. en-us Wed, 27 Apr 2016 00:00:00 +0530 Fri, 16 Aug 2024 16:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456256 ITAT Kolkata held that block assessment under section 158BD was invalid due to jurisdictional error. During search at UIC Group premises, no incriminating materials were found against appellant company. The AO having jurisdiction over UIC Group should have recorded satisfaction before initiating proceedings, but instead the AO with jurisdiction over the assessee recorded satisfaction. Court ruled this violated proper procedure as materials found during search were not handed over to correct jurisdictional AO. Following SC precedent in Manish Maheshwari and Gujarat HC in Champakbhai Mohanbhai Patel, ITAT reversed lower authorities' orders and allowed assessee's appeal. Case-Laws Income Tax Wed, 27 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456256