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| The Tax Publishers2019 TaxPub(DT) 2542 (Mad-HC) : (2020) 421 ITR 0562 : (2020) 314 CTR 0705 INCOME TAX ACT, 1961
Section 158BD Section 158BC
Recording of independent and separate reasons other than the one which was already recorded by the Tribunal in the appeal order passed in the case of son of the present assessee, against whom search was conducted in the present case, is not even envisaged under the Scheme of the Act under section 158BD.
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Search and seizure - Proceedings under section 158BD - Satisfaction of AO - Recording of reason earlier under section 158BC in assessee's son's case--Jurisdiction in mother-partner's case
Mr. S.V. S, against whom a search under section 132 was conducted and then proceedings for Assessment under section 158BC were initiated. He, therefore, submits that the assessment in the hands of the mother--present assessee--Smt. V. V. without any basis in the absence of satisfaction being recorded and the Tribunal had erred in holding that the satisfaction recorded by the Tribunal while dealing with the earlier appeal of the son, Mr. S.V. could be taken as sufficient for initiating the proceedings under section 158BD against the mother--present assessee. During the course of search under section 132 reasous were recorded against the present assessee, Smt. V.V. who even denied the transaction of sale of capial asset in question. Held: The Appellate authorities below had not committed any error in so holding. On the contrary, for not raising any objection in the first instance by the assessee before the assessing authority itself when the notice under section 158BD was served upon her, it should be deemed that the mother--present assessee--had acquiesced to the jurisdiction of the authority to proceed under section 158BD and given up any objection with regard to the same. Recording of independent and separate reasons other than the one which was already recorded by the Tribunal in the appeal order passed in the case of son of the present assessee, against whom search was conducted in the present case, was not even envisaged under the Scheme of the Act under section 158BD. Once the Tribunal finally concluded the finding of fact in the case of persons against whom search was made that the transaction of sale of property in question was taxable in the hands of mother-present assessee- Smt. V. V.
Distinguished:Manish Maheshwari v. Asstt. CIT, (2007) 289 ITR 341 (SC) : 2007 TaxPub(DT) 1020 (SC).
REFERRED :
FAVOUR : Against the assessee.
A.Y. : Block Period 1-4-1995 to 13-9-2001
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