Friday, 25 September 2015

Block assessment under sec. 158BD set-aside as AO failed to record satisfaction in respect of other

IT : Material and evidence on basis of which Assessing Officer of searched person had reached to conclusion that undisclosed income belonged to any other person was not brought on record, pre-requisite of 'satisfaction' for initiation of block assessment proceeding in case of such other person was non-existent or absent

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