Section 158BD- Satisfaction note and notice to receiver of amount on behalf of others is valid

Even if the amount received on behalf of other person, satisfaction note and notice u/s 158BD issued in the name of receiver of income can still be held valid Brief Facts 1. One search and seizure operation was carried out in respect of Batra group on 17.12.1999. During the course of search, the Revenue came across certain documents which formed the basis of a Satisfaction Note recorded under Section 158BD on 30.05.2002. Soon thereafter, notice was issued on 03.06.2002 and served on the assessee . 2. The document forming basis of the Satisfaction Note was a receipt executed sometime in 1999. T...