9911796707
TMI Blog2024 (7) TMI 514X X X X Extracts X X X X X X X X Extracts X X X X ..... e HELD THAT:- Under Section 158BD satisfaction has to be recorded by the assessing officer of the searched person and then to send it to the Assessing Officer of such other person. The facts of the present case clearly based on documentary evidences clearly reveals that the assessing officer of the searched person has neither recorded any satisfaction as required u/s 158BD nor handed over to the assessing officer of the respondent/assessee seized documents etc. to enable the assessing officer of the respondent/assessee to proceed under Section 158BC. Under the circumstances, the initiation of proceedings by the assessing officer of the respondent/assessee under Section 158BD of the Act, 1961 was without jurisdiction and unauthorized. The fi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any adverse inference was drawn by the assessing officer of the searched person against the respondent/assessee. However, the assessing officer of the respondent/assessee passed an assessment order under Section 158BD of the Income Tax Act, 1961 (hereinafter referred to as the Act, 1961 ) dated 30.11.2006. Against the aforesaid assessment order, the respondent/assessee filed an appeal before the CIT(Appeals), Central -3, Kolkata which was dismissed on the point of challenge to the initiation of proceedings under Section 158BD. However, the appeal was allowed on ground nos. 2 and 3 with respect to addition of a sum of Rs. 1,39,50,000/-. 4. Aggrieved with the order of the CIT(Appeals), the respondent/assessee filed IT(SS)A No. 68/Kol/2013 rai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommunicated reasons for initiation of proceedings under Section 158BD of the Act, 1961 to the respondent/assessee vide letter dated 4.5.2006. A notice under Section 142 (1) of the Act, 1961 dated 22.8.2006 was issued which was served upon the respondent/assessee on 27.8.2006. In response, the respondent/assessee submitted block return for the period 1.4.1996 to 7.5.2002 on 2.11.2006 and appeared through his authorized representative before his assessing officer on 8.11.2006 and submitted two written representations contending that the proceedings under Section 158BD has been wrongly initiated and it deserves to be dropped. Thereafter, the assessing officer passed the assessment order dated 30.11.2006. 7. The satisfaction note reproduced in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e also not followed. 9. Under Section 158BD satisfaction has to be recorded by the assessing officer of the searched person and then to send it to the Assessing Officer of such other person. The facts of the present case clearly based on documentary evidences clearly reveals that the assessing officer of the searched person has neither recorded any satisfaction as required under Section 158BD nor handed over to the assessing officer of the respondent/assessee seized documents etc. to enable the assessing officer of the respondent/assessee to proceed under Section 158BC. Under the circumstances, the initiation of proceedings by the assessing officer of the respondent/assessee under Section 158BD of the Act, 1961 was without jurisdiction and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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