2014 (12) TMI 1396

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tions of law:- 1. "Whether the Tribunal was correct in holding that the notice issued under Section 158BD does not satisfy the requirements of law on the ground that Assessing Officer has recorded satisfaction after completion of the block assessment under Section 158BC in the case of the person search? 2. Whether the Tribunal was correct in holding that satisfaction under Section 158BD should be recorded before completion of the block assessment under Section 158BC in the case of the person search in order to initiate proceedings under Section 158BD against the person other than, searched without noticing that Section 158BD has not stipulated any limitation and pendency of block assessment proceedings for recording satisf....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cer either at the time of initiating proceedings for completion of assessment of a searched person under Section 158BC of the Act or during the stage of the assessment proceedings. It does not mean that after completion of the assessment, the assessing officer cannot prepare the satisfaction note to the effect that there exists income tax belonging to any person other than the searched person in respect of whom a search was made under Section 132 or requisition of books of accounts were made under Section 132A of the Act. The language of the provision is clear and unambiguous,. The legislature has not imposed any embargo on the assessing officer in respect of the stage of proceedings during which the satisfaction is to be reached and record....