Tuesday 10 June 2014

Assessment of a person other than searched one could be made either under sec. 148 or sec. 158BD

IT : Chapter XIV-B does not preclude Assessing Officer to proceed against an assessee by issuing notice under section 148 and, therefore, pursuant to search proceedings carried out in case of another person, it is open to Assessing Officer to either proceed under Chapter XIV-B or under section 148 against assessee


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