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2012 (10) TMI 1053
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....ed this appeal being aggrieved by the order passed by the Income Tax Appellate Tribunal dated 28.05.2008 passed in IT (SS) A.No.38/Bang/2004 and also the rejection of Miscellaneous Petition filed by the appellant in M.P. NO.84/BANG/2008 dated 13.03.2009. 2. The facts leading to this appeal are as under: A search was conducted by the Revenue on the house of one M.M. Meharwade and a huge cash ....
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....Tribunal directed the revenue to produce the reasons recorded by the Assessing Authority to satisfy himself to issue notice to the assessee. More than an year time was granted to the revenue. Inspite of such an opportunity, the revenue did not produce the satisfaction recorded by the Assessing Officer. Therefore the Tribunal drawing an adverse inference allowed the appeal of the assessee and set a....
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....n 158BD of the Act without verifying the order sheet maintained by the Assessing Officer, wherein satisfaction has been recorded before issuing notice under Section158BC r/w 158BD of the Act and consequently recorded a perverse finding?" 6. We have heard the counsel for the parties. We have also seen the copy of the satisfaction recorded by the Assessing Officer, which reads as hereunder: ....