2016 (12) TMI 815

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....eel Ahamad ORDER Heard Sri Shubham Agarwal, learned counsel for the department and Sri Shakeel Ahmad along with Sri Ashish Bansal for the assesee. This is a department's appeal filed under Section 260-A of the Income Tax Act, 1961 against an order dated 12.9.2008 passed by the Income Tax Appellate Tribunal for the block assessment period ending on 4th of June of 2002. The following....

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.... Hon'ble Tax Appellate Tribunal was justified in law, in importing the time limit for initiating the proceedings u/s 158 BD although the statute make no such provision." The facts of the case are that a search was conducted on 04.06.2002 in the case of Sri Jaswant Singh and the block assessment, in his case, was framed on 18.06.2004. During the course of search, certain documents were seize....

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.... decision of the Apex Court in the case of National Thermal Power Corporation Vs. CIT (1998) 229 ISTR 383. The ITAT did not go into the merits and held that the proceedings initiated u/s 158 BD in the hands of the assessee were invalid on the grounds that:- (i) That no satisfaction was recorded by the AO having jurisdiction over the person searched. (ii) That such satisfaction ha....

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.... escaped or there was any reason to believe that leave was required for reopening under Section 158BD of the Income Tax Act. On the contrary the tribunal has recorded categorical finding of fact that no satisfaction as is required to be recorded with regard to the re-opening of the case was done in the case of the present assessee in order to initiate proceedings under Section 158BD of the I.T.....