2004 (12) TMI 49

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....tion 132 of the Income-tax Act in the premises of the assessee in respect of his business, it would be illegal to make an assessment under section 158BC read with section 158BD as has been done by the Assessing Officer. The assessee, a partnership firm engaged in the business of manufacture and sale of note books, greeting cards, X mas cards, etc., has been assessed to tax from the assessment year 1986-87 onwards. M/s. Don Bosco Industries, Kollam, is the sister concern. The business premises of Don Bosco Industries was searched as per the provisions of section 132 of the Act. Certain books of account and documents relating to the assessee were seized from the said business premises, scrutiny of which gave an impression that sales had be....

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....58BC read with section 158BD even if search was not conducted in the premises of the assessee under section 132 of the Act. In this connection we may refer to sections 158BC and 158BD, as follows: "158BC. Where any search has been conducted under section 132 or books of account, other documents or assets are requisitioned under section 132A, in the case of any person, then,- (a) the Assessing Officer shall- (i) in respect of search initiated or books of account or other documents or any assets requisitioned after the 30th day of June, 1995, but before the 1st day of January, 1997, serve a notice to such person requiring him to furnish within such time not being less than fifteen days; (ii) in respect of search initiated or books....

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....ssessment' in section 132B shall be construed as references to 'block assessment'. 158BD. Where the Assessing Officer is satisfied that any undisclosed income belongs to any person, other than the person with respect to whom search was made under section 132 or whose books of account or other documents or any assets were requisitioned under section 132A, then, the books of account, other documents or assets seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed against such other person and the provisions of this Chapter shall apply accordingly." From a reading of the above-mentioned provision, it is clear that the Assessing Officer need....