2023 (9) TMI 1599 - HC - Income Tax

Validity of search - Petitioners state that the Revenue does not have the satisfaction note and hence the situation will be similar to that covered by the order that this Court passed 2023 (8) TMI 162 - BOMBAY HIGH COURT and another - HELD THAT - Even if the search is held to be invalid, the information or material gathered during the course thereof may be relied upon by Revenue for making adjustment to assessee s income in an appropriate proceeding, if so advised, and Revenue may utilize the information or material in such proceeding, as is permissible in law. ITAT is directed to dispose the pending Appeals in terms of this order within a period of twelve weeks from the date this order is filed in the Registry of ITAT. Petitions disposed.

Summary

The High Court of Bombay directed that if a search is found invalid, information gathered can still be used by Revenue. The Income Tax Appellate Tribunal must dispose of pending Appeals within twelve weeks. Petitions were disposed.